Page 414 - DCAC Feb 2026 Files

Excessive Fees: Investment Fees / Imprudent

Investment Selection

Batten v. Ricoh USA Inc. et al. and Kruchten et al. v. Ricoh USA Inc. et al.—against the Ricoh USA

401(k) retirement plan consolidated for the purpose of the settlement.

Complaints alleged plan fiduciaries failed to prudently monitor plan recordkeeping services,

allowing participant to pay excessive fees.

• Originally, filed in May 2022 with the U.S. District Court for the Eastern District of Pennsylvania,

which granted Richo’s motion to dismiss, but allowed the plaintiffs to amend their complaint.

• The complaint was dismissed again in December 2022.

• Plaintiffs appealed to the U.S. 3rd Circuit Court of Appeals

in May 2023.

• IN November 2025, Richo agreed to settle the lawsuits for

$1.75 million.

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