Federal Judge Throws Out Claim That Fiduciaries Violated Duty Of Prudence

Mealey's (September 26, 2017, 10:01 AM EDT) -- DULUTH, Minn. — A Minnesota federal judge on Sept. 21 found that current and former employees of Wells Fargo & Co.  failed to plausibly allege that fiduciaries of the company’s 401(k) plan could not have concluded that an earlier disclosure of unethical sales practices would have done more harm than good, dismissing their claim that the fiduciaries violated their duty of prudence under the Employee Retirement Income Security Act (In Re: Wells Fargo ERISA 401(K) Litigation, No. 16-3405, D. Minn., 2017 U.S. Dist. LEXIS 154535)....