Ex-Takeda Pharmaceuticals Workers File Class Bid in 401(k) Suit

Two former employees of Takeda Pharmaceuticals USA Inc. who sued the company over the target date funds in their 401(k) plan asked a Massachusetts federal judge to certify the case as a class action covering more than 8,000 people.

The Employee Retirement Income Security Act claims against Takeda turn on common questions that can be resolved on a classwide basis, including whether the Takeda defendants failed in their duties and whether the company’s retirement plan was harmed by these breaches, former employees Robert Ford and Phillip Schwartz said in a class certification motion filed Thursday.

Takeda provided the same menu ...