Employees claim 401(k) mismanagement led to tens of millions in losses

Employees of Pitney Bowes filed a class-action lawsuit alleging the company's 401(k) administrators caused tens of millions in losses by retaining underperforming T. Rowe Price funds for over five years, violating ERISA fiduciary duties. The lawsuit claims the funds' poor performance and high costs led to significant retirement losses for participants.