In April 2014, the U.S. Supreme Court will hear a case involving Fifth Third Bank employees who sued the bank for allegedly investing 401(k) contributions in Fifth Third stock, which was too risky. The alleged violations occurred between July 2007 and September 2009 when Fifth Third stock plunged 75 percent from $40.79 to $10.24 per share. Employees claim this cost them millions of dollars.
This case could affect employers and employees at hundreds of companies whose 401(k) plans are structured similarly. For more, click here