5th Circuit Upholds Ruling For RadioShack In Stock Investment ERISA Suit

Mealey's (February 8, 2018, 2:10 PM EST) -- NEW ORLEANS — RadioShack Corp. employees who participated in its 401(k) plan failed to show that RadioShack’s board of directors and 401(k) plan administrative committee breached their fiduciary duties under the Employee Retirement Income Security Act by allowing plan participants to invest in RadioShack stock while the company was headed to bankruptcy, a Fifth Circuit U.S. Court of Appeals panel ruled Feb. 6, upholding a trial court’s ruling for RadioShack (Manoj P. Singh v. RadioShack Corporation, et al., Jeffrey Snyder v. RadioShack Corporation, et al., William A. Gerhart, et al. v. RadioShack Corporation, et al., No. 16-11587, 5th Cir., 2018 U.S. App. LEXIS 2904)....