{"id":4581,"date":"2026-03-04T15:59:56","date_gmt":"2026-03-04T20:59:56","guid":{"rendered":"https:\/\/thebulletinjournal.com\/?p=4581"},"modified":"2026-03-04T15:59:57","modified_gmt":"2026-03-04T20:59:57","slug":"cushman-faces-401k-suit-over-climate-risk-claims","status":"publish","type":"post","link":"https:\/\/thebulletinjournal.com\/?p=4581","title":{"rendered":"Cushman Faces 401(k) Suit Over Climate Risk Claims"},"content":{"rendered":"\n<p>A former employee is suing <strong>Cushman &amp; Wakefield<\/strong> over its <strong>401(k)<\/strong> plan. The complaint alleges the plan did not protect participants from climate-linked financial risk.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Allegations Focus on One Fund Option<\/h2>\n\n\n\n<p>The plaintiff, <strong>Renee Kvek<\/strong>, worked at the company until <strong>2024<\/strong>. She says the plan offered a single fund option in a specific category.<\/p>\n\n\n\n<p>That option was the <strong>Westwood Quality SmallCap Fund<\/strong>, the filing says. The suit argues the fund carried elevated exposure to climate-sensitive sectors.<\/p>\n\n\n\n<p>The complaint also claims the fund did not actively manage climate risk. Westwood has not provided a public comment in the material provided.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Fees, Performance, and Fiduciary Duties<\/h2>\n\n\n\n<p>The lawsuit argues the fund had high fees and weak performance over time. It also claims these issues increased the chance of deeper future losses.<\/p>\n\n\n\n<p>The filing says this violated duties under <strong>ERISA<\/strong>. Those duties require plan decision makers to act prudently for participants.<\/p>\n\n\n\n<p>The case is framed as a proposed class action. It targets decisions about what investment options were offered to workers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why the Case Could Matter Beyond One Employer<\/h2>\n\n\n\n<p>The claim is notable because it puts climate-related financial risk at the center. It could influence how retirement plans evaluate long-term risks.<\/p>\n\n\n\n<p>The filing contrasts this theory with earlier disputes over ESG approaches. Those prior cases raised different arguments about political motivations.<\/p>\n\n\n\n<p>The complaint also states the firm managed climate risk in its corporate operations. It argues that approach was not mirrored in the retirement plan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Fidelity Named, but Role Disputed<\/h2>\n\n\n\n<p><strong>Fidelity Investments<\/strong> is named as record keeper and trustee in the filing. The excerpt provided says Fidelity did not choose plan investment options.<\/p>\n\n\n\n<p>The case was filed in federal court in <strong>Washington state<\/strong>. Further proceedings will determine whether it moves forward as a class action.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A former employee is suing Cushman &amp; Wakefield over its 401(k) plan. The complaint alleges the plan did not protect participants from climate-linked financial risk. Allegations Focus on One Fund Option The plaintiff, Renee Kvek, worked at the company until 2024. She says the plan offered a single fund option in a specific category. That<\/p>\n","protected":false},"author":5,"featured_media":4582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[665,666,663,668,671,667,664,669,672,670],"ppma_author":[44],"class_list":{"0":"post-4581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-climate","8":"tag-401k-lawsuit","9":"tag-climate-risk","10":"tag-cushman-wakefield","11":"tag-erisa","12":"tag-fiduciary-duty","13":"tag-investment-fees","14":"tag-retirement-plan-governance","15":"tag-small-cap-fund","16":"tag-us-pensions","17":"tag-worker-protections"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cushman Faces 401(k) Suit Over Climate Risk Claims - The Bulletin Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thebulletinjournal.com\/?p=4581\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman Faces 401(k) Suit Over Climate Risk Claims - The Bulletin Journal\" \/>\n<meta property=\"og:description\" content=\"A former employee is suing Cushman &amp; Wakefield over its 401(k) plan. The complaint alleges the plan did not protect participants from climate-linked financial risk. Allegations Focus on One Fund Option The plaintiff, Renee Kvek, worked at the company until 2024. She says the plan offered a single fund option in a specific category. That\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thebulletinjournal.com\/?p=4581\" \/>\n<meta property=\"og:site_name\" content=\"The Bulletin Journal\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-04T20:59:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-04T20:59:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thebulletinjournal.com\/wp-content\/uploads\/2026\/03\/Cushman-Faces-401k-Suit-Over-Climate-Risk-Claims.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sarah Haddad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sarah Haddad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thebulletinjournal.com\/?p=4581#article\",\"isPartOf\":{\"@id\":\"https:\/\/thebulletinjournal.com\/?p=4581\"},\"author\":{\"name\":\"Sarah Haddad\",\"@id\":\"https:\/\/thebulletinjournal.com\/#\/schema\/person\/e194d8212a7160ae20c889797af3a08d\"},\"headline\":\"Cushman Faces 401(k) Suit Over Climate Risk Claims\",\"datePublished\":\"2026-03-04T20:59:56+00:00\",\"dateModified\":\"2026-03-04T20:59:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thebulletinjournal.com\/?p=4581\"},\"wordCount\":299,\"publisher\":{\"@id\":\"https:\/\/thebulletinjournal.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thebulletinjournal.com\/?p=4581#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thebulletinjournal.com\/wp-content\/uploads\/2026\/03\/Cushman-Faces-401k-Suit-Over-Climate-Risk-Claims.png\",\"keywords\":[\"401(k) lawsuit\",\"climate risk\",\"Cushman &amp; 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