Common use of What Is The Class Action About Clause in Contracts

What Is The Class Action About. In the Class Action, Class Representatives claim that, during the Class Period, Defendants breached their fiduciary duties and engaged in prohibited transactions by distributing Plan assets to Northrop Grumman as payment for administrative services and investment-related services it provided to the Plan. Plaintiffs also claim Case 2:16-cv-06794-▇▇-▇▇ Document 321-1 Filed 01/13/20 Page 57 of 66 Page ID #:26638 that Defendants breached their fiduciary duties by maintaining active managers in the Plan’s Emerging Markets Equity Fund. Defendants have denied and continue to deny the claims and contentions of the Class Representatives, that they are liable at all to the Class, and that the Class or the Plan have suffered any harm or damage for which Defendants could or should be held responsible.