T. Rowe Price Group, a global investment management firm, has been sued by a 401(k) participant who is saying the company’s plan offered only T. Rowe Price investment options, without considering less expensive ones.

David G. Feinberg vs T. Rowe Price Group Inc. et al. was filed on February 14 in US District Court in Baltimore. The participant claimed the plan “favored the economic interests of T. Rowe Price Group Inc. and its affiliates over the interests of their employees.” 

The lawsuit also alleges that the defendants frequently offered the higher cost retail class versions of their mutual funds in the 401(k) plan, despite the fact that significantly cheaper versions of the funds were available. Thisfavored the economic interests of the company over the interests of its employees.

Feinberg is seeking class-action status in challenging the management of the retirement program.  According to the lawsuit, the T. Rowe Price U.S. Retirement Program had more than $1.7 billion in assets in 2015 alone.

In a recent email, a T. Rowe Price spokeswoman said that the group believes the suit is without merit and intends to defend itself.

This case follows on from several similar 401(k) self dealing lawsuits filed within the last year against financial services firms.