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Judge Dismisses Fiduciary Breach Lawsuit Against CVS and Stable Value Fund Manager
Pensions & Investments Apr. 24, 2017
"The lawsuit, originally filed in February 2016 by three plan participants, charged that CVS breached its fiduciary duties because the plan's stable value fund ... imprudently invested 'too much of the plan's stable value fund assets in ultra-short-term cash management funds that provided extremely low investment returns' ... Judge Mary M. Lisi dismissed the suit, citing that the 'fund was invested in conformance with its stated objective and whether that strategy was prudent cannot be measured in hindsight.' " [Barchock v. CVS Health Corp., No. 16-061 (D.R.I. Apr. 18, 2017)]
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