B. Braun Medical Must Face ERISA Suit Over 401(k) Plan
June 5, 2021
Law360 (June 4, 2021, 10:32 PM EDT) -- A Pennsylvania federal judge on Friday refused to toss a proposed ERISA class action alleging B. Braun Medical Inc. mismanaged its 401(k) plan, finding that four former employees had backed up their allegations that the medical device manufacturer improperly selected high-cost investments and incurred excessive record-keeping fees.
In partially rejecting Braun's bid to escape the Employee Retirement Income Security Act complaint, U.S. District Judge Edward G. Smith said the ex-workers cannot pursue claims of breach of fiduciary duty of loyalty and failure to monitor, but they could proceed with a claim that the company and related defendants breached their duty of...
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