Posted: October 6th, 2016
Professor Alan Palmiter is quoted in the following Reuters story, “How a Private Fund of the Family that Runs Fidelity is Pocketing Hundreds of Millions off Americans’ 401(k),” originally published in Fortune on Wednesday, Oct. 5, 2016.
Alan Palmiter, a business law professor at Wake Forest University, called the arrangement more problematic because it directly pits the interests of Fidelity fund investors against those of Fidelity‘s owners and elite managers. “It’s hard to imagine a clearer corporate conflict of interest,” Palmiter said.
Read more here: http://fortune.com/2016/10/05/fidelity-johnsons-401ks/