On Remand, Federal Judge Again Finds Funds Were Properly Divested
Mealey's (February 22, 2016, 11:30 AM EST) -- WINSTON-SALEM, N.C. — A North Carolina federal judge on Feb. 18 found, for a second time, that R.J. Reynolds Tobacco Co. (RJR) was not imprudent under the Employee Retirement Income Security Act when it eliminated Nabisco as an investment option for employees, only to later sell the stock at a loss (Richard G. Tatum v. R.J. Reynolds Tobacco Co., et al., No. 02-373, M.D. N.C.; 2016 U.S. Dist. LEXIS 19536).
(Decision available. Document #54-160309-037Z.)
“After a careful weighing of the evidence and a review of all...