8th Circuit Affirms Dismissal Of ERISA Claims Over Target's Canadian Flop

Mealey's (July 31, 2020, 1:49 PM EDT) -- ST. LOUIS — A federal court in Minnesota properly dismissed a putative class complaint alleging that Target Corp. and others violated their ERISA-bound duties of prudence and loyalty to participants in an employee benefit plan by failing to freeze the plan's purchases of the retailer's stock or disclose the retailer's trouble with its foray into the Canadian market, the Eighth Circuit U.S. Court of Appeals ruled July 28 (Ann Dormani, et al. v. Target Corporation, et al., No. 18-2543, 8th Cir., 2020 U.S. App. LEXIS 23746)....