Koch Industries

On July 17, 2020, we filed a lawsuit on behalf of participants in the Koch Industries Inc. Employees’ Savings Plan, Georgia-Pacific LLC Hourly 401(k) Plan, Georgia-Pacific LLC 401(k) Retirement Savings Plan, and the Flint Hills Resources Chemicals Salary Deferral Plan (the “Plans”). The lawsuit alleges that the Plans’ fiduciaries (the Defendants in the case) violated the Employee Retirement Income Security Act (ERISA) by failing to act prudently or in the interest of the Plans’ participants and beneficiaries. 

Among other things, the lawsuit alleges that Defendants breached their fiduciary duties by charging excessive fees for recordkeeping services. Though the suit has been filed, we are looking for additional individuals to potentially participate in the case.  If you believe you may have been shortchanged as a result of the alleged mismanagement of the Plan, please contact Sean Kelly, our Class Action Clerk, by phone at (612) 256-3275 or by email at skelly@nka.com.

The lawsuit seeks to recover the Plans’ financial losses and other equitable relief. For a copy of the Complaint, click here.