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Court Moves Forward Stock Drop Claims against Missouri Company
PLANSPONSOR; free registration may be requiredLink to more items from this source
Mar. 24, 2010
Excerpt: A federal court has ruled that participants in the 401(k) plan sponsored by MEMC Electronic Material can move forward with their Employee Retirement Income Security Act fiduciary breach claims. U.S. District Judge Henry Edward Autrey of the U.S. District Court for the Eastern District of Missouri said at this stage in the proceedings specific facts are not necessary, and the plaintiffs need only set forth allegations and notify defendants that they challenge the defendants' prudence and loyalty. According to Autrey, the issue is not whether the plaintiffs will ultimately prevail, but whether they are entitled to present evidence in support of the claim.

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