9th Circuit Affirms Dismissal Of Class Action Over Disney Fund Investment Option

(March 6, 2019, 1:34 PM EST) -- PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on March 1 affirmed a federal court’s dismissal of a putative Employee Retirement Income Security Act class action filed by participants in the Walt Disney Co. retirement plan over a plan investment option, finding that the investment and concentration in pharmaceuticals was “facially consistent” with the retirement plan documents (Jack Wilson, et al. v. Fidelity Management Trust Company, et al., No. 17-55726, 9th Cir., 2019 U.S. App. LEXIS 6384)....

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