Federal Judge: Ex-Employees Did Not Show Trustees’ Motive In Stock Plan Complaint

(February 8, 2024, 3:48 PM EST) -- NASHVILLE, Tenn. — Finding in part that a group of former employees had not established a breach of duty of loyalty under the Employee Retirement Income Security Act, a federal judge in Tennessee granted in part a motion to dismiss the putative class complaint filed by their former employer’s fiduciary trustee, while denying in full a motion to dismiss the complaint filed by executives of the employer....

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