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Violation Tracker Individual Record

Company: BlackRock Institutional Trust Company, N.A.
Current Parent CompanyBlackRock
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Penalty: $9,650,000
Year: 2021
Date: November 3, 2021
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: BlackRock agreed to pay over $9 million to settle an ERISA class action accusing it of charging workers and retirees millions in unreasonable 401(k) fees.
Level of Government: federal
Action Type: private litigation
Court: Northern District of California
Civil or Criminal Case: civil
Case ID: 4:17cv1892
Case Name: Baird v. BlackRock Institutional Trust Company, N.A. et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.