Minnesota Federal Judge Dismisses ERISA, Securities Claims Against Target Corp.

Mealey's (August 3, 2017, 1:36 PM EDT) -- MINNEAPOLIS — A Minnesota federal judge on July 31 granted Target Corp.’s motion to dismiss an Employee Retirement Income Security Act action and a securities action against it, finding that the ERISA claims failed to plausibly allege that the defendants breached their duty of prudence, duty of loyalty and duty to monitor plan investment committee members and that the plaintiffs failed to show that the defendants’ statements were false or misleading when made, as required by the Private Securities Litigation Reform Act (In re: Target Corp. Securities Litigation, No. 16-1315;  In re:  Target Corp. ERISA Litigation, No. 16-2400, D. Minn., 2017 U.S. Dist. LEXIS 120055)....