Northern Trust Lawsuit 2026, $35M Elder Fraud Case + $6.9M 401(k) Settlement—What Affected Clients & Plan Members Need To Know
Northern Trust faces two major lawsuits in February 2026: an $35 million elder fraud case alleging a vice president embezzled from an 81-year-old client’s trust for over a decade, and a $6.9 million ERISA settlement over underperforming in-house target date funds in its 401(k) plan, which received preliminary court approval on January 28, 2025. The…
