February 9, 2026
Nationwide Mutual Insurance Co. must face a trimmed class action pursued by employee 401(k) plan participants alleging mismanagement, an Ohio federal judge ruled in an opinion unsealed Monday, telling the parties to prepare for a bench trial on the surviving claims.
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Kai H. Richter of Cohen Milstein Sellers & Toll PLLC, an attorney for the class, in a statement to Law360 on Monday applauded Judge Morrison’s “careful attention to the important issues raised in this case.”
“We are pleased with the court’s ruling denying Nationwide’s motion to exclude our experts and denying its motion for summary judgment on the breach of fiduciary duty and prohibited transaction claims for the period at issue,” Richter said. “We wholeheartedly agree with the court’s observation that the ‘dissonance’ in Nationwide’s position ‘demands further exploration,’ and look forward to the upcoming trial.”
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The class is represented by Kai H. Richter, Michelle C. Yau and Daniel R. Sutter of Cohen Milstein Sellers & Toll PLLC and Eric H. Zagrans of Zagrans Law Firm LLC.
Read Nationwide ERISA 401(k) Class Action Heads To Bench Trial.