Core Viewpoint - Five former Dell employees are suing the company for allegedly mismanaging its 401(k) retirement plan, resulting in significant financial losses for employees [1][2]. Group 1: Allegations of Mismanagement - The lawsuit claims that Dell and its retirement plan managers failed to monitor and replace underperforming investment options, leading to "massive underperformance" and a loss of over $318 million for the plan and its participants [2][4]. - The plaintiffs argue that the selection and monitoring process of the investment funds was incompetent, contributing to the fund's underperformance [4]. Group 2: Impact on Employees - Dell's 401(k) plan serves approximately 63,000 current and former employees, holding about $14.6 billion in assets as of 2024 [4]. - The lawsuit seeks to recover losses for plan participants and calls for changes in the management of Dell's retirement plan, including the removal of individuals who breached their fiduciary duties [5]. Group 3: Context of Similar Lawsuits - Lawsuits regarding 401(k) mismanagement are not uncommon, with past cases resulting in settlements, such as UnitedHealth's $69 million settlement in 2015 for similar allegations [6].