Coca-Cola Bottler's Dismissal Bid Fizzles Out In 401(k) Suit
April 1, 2021
Law360 (March 31, 2021, 11:02 PM EDT) -- A North Carolina Judge on Wednesday shot down Coca-Cola Consolidated Inc.'s bid to dismiss a proposed class action alleging the Coca-Cola bottler mismanaged the retirement portfolio of its former employees, finding that the workers successfully alleged that their old employer breached its fiduciary duty.
In an 11-page opinion, U.S. District Judge Frank D. Whitney ruled that the former workers' allegations sufficiently demonstrate that Coca-Cola Consolidated failed to select the most cost-efficient plan when cheaper alternatives with similar investment lineups were available.
"The court finds plaintiffs' factual allegations regarding defendants' alleged failure to utilize cheaper investments that offer identical underlying investments sufficiently...
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