First Circuit: Wong v. FMR LLC


Court appropriately considered Plan Manager's contracts with employer in granting dismissal for not stating a claim; no discovery was required to establish authenticity.

Intermediary that compiles a list of investment options from which Plan Managers select fixed options (after selecting the intermediary) is not transformed into a Plan fiduciary by the infrastructure fees assessed to the providers of the investment options, the ability ot modify the array of options open to Plan Managers, or the funds provided by the participation by the Plan Beneficiaries.

Wong v. FMR LLC