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Third Circuit Affirms Dismissal of 401(k) 'Stock-Drop' Case (PDF)
Alston & Bird LLP 
Sept. 28, 2007 Excerpt: The United States Court of Appeals for the Third Circuit has affirmed the dismissal of a case against our client Avaya Inc., in which plaintiff alleged defendants breached their fiduciary duty by (1) imprudently offering employer stock as an investment option to 401(k) plan participants and (2) failing to disclose material information to those plan participants. Edgar v. Avaya, Inc., et al., __ F.3d __, 2007 WL 2781847, Case No. 06-2770 (3d Cir. Sept. 26, 2007). MORE >> |
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