Organization: Takeda Pharmaceutical
Sanford Heisler Sharp, LLP is evaluating whether Takeda Pharmaceutical has mismanaged its employees’ 401(k) plan. Takeda Pharmaceutical is a global biopharmaceutical company with its U.S. headquarters in Deerfield, Illinois.
About the Investigation
Employers like Takeda have a legal duty to monitor the investment options it makes available to you in your plan and remove those that perform poorly. Our research indicates that for several years Takeda Pharmaceuticals retained too many poorly performing investment options in its 401(k) Plan. In particular, Takeda offered employees the Northern Trust target retirement date funds, a series of ten target retirement date funds that have suffered chronic underperformance spanning a decade. This is significant because large numbers of Takeda employees invested over a half a billion dollars in these funds. Instead, of helping employees build a retirement nest egg, these Northern Trust funds costed employees millions of dollars in retirement savings.
If you were one of the 8,700 participants in the Takeda Pharmaceutical 401(k) Plan and owned one of the following target retirement date funds, please contact Sanford Heisler Sharp, 655 West Broadway, Suite 1700, San Diego, CA 92101 or call our San Diego Office at (619) 577-4253 or our New York office at (646) 402-5650.