Erie Indemnity faces class action alleging breach of fiduciary duty over management fees

ERIE INDEMNITY CO

Complaint filed August 24, 2021 in Allegheny County, PA by policyholders Troy Stephenson, Christina Stephenson, Susan Rubel, and Steven Barnett.
Alleges Erie Indemnity set management fee in breach of fiduciary duty, seeking damages and disgorgement for period two years prior through 2021.
Relief sought includes unspecified damages at trial and injunctive relief; company not yet served and intends to vigorously defend.
Risk factors noted: no assurance on final disposition; company's forward-looking statements incorporated by reference from Q2 2021 10-Q.

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