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Ex-worker sues L.A. mutual fund giant : Capital Group bilked staff by pushing their retirement savings into its funds, suit says.

Jun 23, 2017 - Los Angeles Times

Los Angeles finance giant Capital Group manages dozens of mutual funds, all of them run by human beings who pick individual stocks and bonds to buy or sell.

And the vast majority of the assets of the company's employee retirement savings plan is invested in those same funds.

Now, a former Capital Group worker is suing the firm, alleging it violated federal retirement savings rules by pushing workers into its own funds rather than offering investments from outside firms that charge lo...