Fidelity Investments, the largest U.S. provider of workplace retirement plans, is facing more accusations it improperly uses customer money earned in overnight accounts to pay its own operating expenses. Three Massachusetts residents accused Boston-based Fidelity on Thursday of using income generated from retirement fund assets to offset Fidelity's own operating expenses. Their lawsuit, filed in U.S. District Court in Massachusetts, seeks class-action status for participants in 401(k) plans sponsored by EMC Corp, Bank of America Corp and Safety Insurance Company. Fidelity denied any wrongdoing. "We believe that the practices described in the lawsuit are consistent with the law and fair to all parties and that we provide valuable services to 401(k) clients for whom Fidelity serves as a record keeper and trustee," Fidelity spokeswoman Jennifer Engle said. The lawsuit follows a federal judge's ruling last year involving a similar accusation that said Fidelity and ABB Inc violated
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