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Violation Tracker Individual Record

Company: Franklin Resources, Inc.
Current Parent Company: Franklin Resources
Penalty: $13,850,000
Year: 2019
Date: October 4, 2019
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: Franklin Resources agreed to pay more than $13 million to settle an ERISA class action alleging that the firm profited by filling its 401(k) with its own investment products.
Level of Government: federal
Action Type: private litigation
Court: Northern District of California
Civil or Criminal Case: civil
Case ID: 4:16cv4265
Case Name: Cryer v. Franklin Resources, Inc. et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.