Schlichter Bogard Obtains Class Certification in Case Against ADP on Behalf of Participants in Its $7.8 Billion Retirement Plan

As reported by Law360, Schlichter Bogard has secured class status on behalf of more than 50,000 employees enrolled in the ADP TotalSource Retirement Savings Plan. The class includes participants and beneficiaries enrolled in the plan beginning in May 2014, as well as a subclass of participants who allege they were overcharged for the plan’s managed account services.

The lawsuit alleges that the company failed to negotiate lower costs for its $7.8 billion employee retirement plan and funneled assets to a subsidiary.

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