401(k) Plan Participant’s Claim For Breach Of Loyalty, Prudence To Proceed

Mealey's (September 10, 2019, 9:44 AM EDT) -- STATESVILLE, N.C. — A North Carolina federal judge on Sept. 5 adopted a magistrate judge’s recommendation to deny a motion to dismiss filed by 401(k) plan defendants accused of removing certain investment funds in favor of funds offered by their investment consultant after determining that the plaintiff sufficiently alleged facts to support a claim for breach of the duties of loyalty and prudence (Benjamin Reetz v. Lowe’s Companies Inc., et al., No. 18-75, W.D. N.C., 2019 U.S. Dist. LEXIS 151794)....