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401k

Principal Financial Group

Nelsen v. Principal Global Investors Trust Company, et al., Case No. 4:18-cv-115 (S.D. Iowa)

On April 16, 2018, we filed a lawsuit on behalf of participants in the Principal LifeTime Hybrid Collective Investment Funds (“Principal CITs”). The lawsuit alleges that the fiduciaries responsible for the investments of the Principal CITs (the Defendants in the case) violated the Employee Retirement Income Security Act (ERISA) by promoting the business interests of Principal and its affiliates at the expense of the Principal CIT’s participants.

The lawsuit seeks to recover the Plan’s financial losses and obtain injunctive and other equitable relief from the Defendants.  For a copy of the Complaint, click here.

Case Updates

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Additional Information

What Is A Class Action?

In a class action lawsuit, one or more people, called the “class representatives,” sue on behalf of themselves and other people who have similar claims. Together, this group of people is called a “class” or “class members.” The class representative and the class members together are called the “Plaintiffs.” The companies they sue are called the “Defendants.” The judge or jury resolves the claims for everyone in the class—except those who ask to be excluded from the lawsuit.

How Long Will This Case Take?

Class actions can often take years.  Please check this page periodically for updates on the case’s status.

How Can I Help?

As part of our investigatory efforts, we are interested in speaking with others who believe they have been shortchanged within their retirement plan.

You may contact us toll free at 1-877-448-0492, write to us at Nichols Kaster, PLLP, 4600 IDS Center, 80 South Eighth Street, Minneapolis, MN 55402, or email our Class Action Clerk, Sean Kelly, at skelly@nka.com.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Read full Disclaimer.