SeaWorld Caught in Net of Excessive Fee Case
SeaWorld Parks & Entertainment Inc. recently agreed to a $1.25 million settlement in a class-action lawsuit filed by employees who alleged excessive fees and mismanagement of the company’s retirement plan. The settlement, which resolves a three-year legal battle, covers approximately 40,000 participants who were enrolled in the plan over a period of nearly 10 years, beginning in August 2015. The case highlights key fiduciary practices for plan sponsors.