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Uncategorized December 3, 2018
Lawsuit Charging Aon Hewitt With Taking ‘Kickbacks” From Financial Engines Is Closed
The parties report they have resolved the case, and the judge dismissed the action with prejudice—meaning another complaint cannot be filed.
Reported by Rebecca Moore
The U.S. District Court for the Northern District of Illinois has dismissed with prejudice a case alleging that Aon Hewitt, as a provider to the Caterpillar 401(k) plan, received what amounted to kickbacks from an agreement with Financial Engines to provide advice to plan participants.
Since the court’s finding in March that the plaintiffs failed to state an actionable claim, a first amended complaint has been filed with the court. Both Aon Hewitt and Caterpillar Inc., which was also named as a defendant in the lawsuit, filed motions to dismiss the amended complaint.
According to the docket report for the case, the parties report they have resolved the case. The judge struck the motions to dismiss in light of the parties’ pending settlement. No details of the resolution were filed with the court.
The judge dismissed the action with prejudice—meaning another complaint cannot be filed—with the parties to bear their own attorneys’ fees and costs.
Similar allegations against Voya Financial and Voya Retirement Advisors and against Xerox HR Soutions were dismissed by federal district courts.