Plaintiffs Argue Review Standard In Opposing Summary Judgment In Valuation Lawsuit

Mealey's (July 9, 2021, 1:04 PM EDT) -- PROVIDENCE, R.I. — Participants in a 401(k) plan argue in their June 28 opposition to a motion for summary judgment that a modified deferential standard of review should apply to their suit in a federal court in Rhode Island that alleges that the plan, its administrator and trustees unreasonably delaying requested market valuations until after the COVID-19 pandemic hit and negatively affected the stock market, saying “the Insider and fiduciary Plan participants had a disproportionate share of the Plan assets, and the most to gain by the special valuation date.”...