No Fiduciary Duty Owed To Profit-Sharing Plan, Arizona Federal Judge Determines

(May 7, 2018, 5:07 PM EDT) -- PHOENIX — An Arizona federal judge on April 26 denied a profit-sharing plan’s motion to file a third amended complaint after determining that the defendants who acquired property in which the plan was invested owed no fiduciary duty to the plan under the Employee Retirement Income Security Act (Hart Interior Design LLC 401(k) Profit Sharing Plan v. Lawrence D. Bain, et al., No. 16-677, D. Ariz., 2018 U.S. Dist. LEXIS 71156)....

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