Charter Communications 401(k) Forfeiture Lawsuit Brought by Schlichter Bogard Will Proceed

As reported by Law360, a federal judge has allowed key claims to proceed in a lawsuit brought on behalf of participants in the Charter Communications 401(k) Plan alleging violations of the Employee Retirement Income Security Act (ERISA).

The lawsuit alleges that Charter improperly used forfeited plan assets and breached its fiduciary duties under ERISA. In denying Charter’s motion to dismiss those claims, the court found that the plaintiffs represented by Schlichter Bogard plausibly alleged that the plan’s governing documents required forfeitures to be applied toward administrative expenses before reducing employer contributions.

In the article, Schlichter Bogard Co-Managing Partner Jerry Schlichter stated that “we are pleased that the court has ruled that the case will proceed, and we will begin working up the case for trial.”

For more information about Schlichter Bogard’s retirement practice, please contact us at 800‑USE‑LAWS (873‑5297) or via email at contact@uselaws.com.

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