Levi & Korsinsky, LLP is investigating claims against Prudential Retirement Insurance and Annuity Company, Prudential Bank & Trust, FSB, and Prudential Investment Management Services, LLC (collectively, “Prudential”), for violations of the Employee Retirement Income Security Act (“ERISA”). Specifically, Prudential entered into arrangements with various mutual funds where, in exchange for giving the mutual funds access to Prudential’s customers by including them on Prudential’s menu of investment options, Prudential received kickback payments. Prudential often described these payments as “service fees”; however, the fees bore no relationship to the value of any services actually performed by Prudential.
These fees not only constitute prohibited transactions under ERISA, they are also in violation of ERISA’s fiduciary rules. If you are a participant in a retirement plan serviced by Prudential, we would like to hear from you.
To get more information regarding the investigation of Prudential, without cost or obligation, please call us at 415-373-1671 or complete our contact form.
The submission of this form does not create an attorney-client relationship automatically. Any information you submit will be maintained as confidential. If Levi & Korsinsky LLP, in its sole discretion, believes that you might have a claim, Levi & Korsinsky LLP will contact you to discuss the matter and whether to establish an attorney client relationship.
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