A federal judge in Indianapolis has rejected a request for reconsideration by a Cook Group 401(k) participant whose ERISA complaint against the company and plan fiduciaries was dismissed in June 2023.
Because the plaintiff "does not identify any manifest errors of law or fact that undermine the court's judgment, that motion is denied," U.S. District Court Judge Richard L. Young wrote Jan. 23 in Mateya vs. Cook Group Inc. et al. The original lawsuit was filed in June 2022.
In June 2023, Young had dismissed the second amended complaint by the plaintiff, who accused Cook of allowing high record-keeping fees and failing to replace its record keeper.
At the time, Young said the plaintiff's efforts to compare Cook's record-keeping fees with those of other plans were insufficient. The judge criticized the plaintiff's lawsuit for containing "methodological errors."
In his Jan. 23 ruling, Young wrote that the plaintiff failed to make apples-to-apples comparisons to support allegations of excessive fees.
Bloomington, Ind.-based Cook Group is a privately held conglomerate whose businesses include medical devices, life sciences, aviation services, property management and resorts.
Cook Group Inc. Profit Sharing Plan, Bloomington, Ind., had $1.1 billion in assets as of Dec. 31, 2022, according to the latest Form 5500.
