U.S. District Judge John Milton Younge denied a motion to dismiss the class action suit, stating that discovery was needed to resolve disputes of fact.
The lawsuit alleges Schnader Harrison unlawfully used 401(k) contributions to support operations and distribute funds to equity partners, rather than funding the retirement plan as intended.
Judge Younge found that the plaintiff had successfully outlined violations of the Employee Retirement Income Security Act of 1974 by showing financial assets were improperly mixed with the retirement plan.
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