Class Plaintiffs Failed To Prove Company Concealed Information On Stock Value
Mealey's (January 12, 2018, 2:18 PM EST) -- SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals on Jan. 9 affirmed a district court’s dismissal of a class action complaint alleging that 401(k) plan fiduciaries concealed information regarding the company’s stock value after determining that the class plaintiffs failed to support their allegations that the company concealed any information (Mike Laffen et al. v. Hewlett-Packard Company 401(k) Plan et al., No. 15-16360, 9th Cir., 2018 U.S. App. LEXIS 577).