Whole Foods Owner, Executives Did Not Breach Fiduciary Duties, 5th Circuit Rules

Mealey's (September 6, 2018, 12:43 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on Sept. 4 affirmed a federal judge in Texas’ decision to dismiss a former Whole Foods Market Inc. employee’s Employee Retirement Income Security Act lawsuit, finding that the plaintiff was unable to show that the company’s executives breached any fiduciary duties when allegedly artificially inflating the company’s stock price during a widespread overpricing scheme, finding that there was no alternative available to help the company’s 401(k) plan (Thomas Martone v. Walter E. Robb, et al., No. 17-50702, 5th Cir., 2018 U.S. App. LEXIS 25052)....