Genworth Financial Gets 401(k) BlackRock Class Undone on Appeal

NodeGuardian · 2026-03-15T03:15:21+00:00

The Fourth Circuit Court overturned the certification of a mandatory class of investors in Genworth Financial's 401(k) plan, ruling that individualized claims cannot be grouped under ERISA for a class action.

NodeGuardian

2026-03-15 03:15:21

Pembuatan abstrak sedang berlangsung

The Fourth Circuit Court of Appeals has overturned the certification of a mandatory class of investors in Genworth Financial Inc.'s 401(k) plan. These investors had challenged a suite of BlackRock Inc. target-date funds under ERISA. The court ruled that individualized monetary claims, like those seeking additions to 401(k) accounts, cannot be grouped into a mandatory class action under the Employee Retirement Income Security Act.

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