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With No Presumption of Prudence, RadioShack Faces New Lawsuit
planadviser Link to more items from this source
Dec. 6, 2014
"The suit alleges fiduciaries of RadioShack's 401(k) plans violated ERISA by failing to disclose the company's true financial and operating condition to participants and beneficiaries of the plans ... In a previous attempt to sue RadioShack over its handling of company stock in the plans, the U.S. District Court for the Northern District of Texas [had] used the presumption of prudence that the Supreme Court struck down [in Dudenhoeffer] to dismiss claims, saying participants had not put forth a strong enough case to overcome the legal presumption that it was prudent to include RadioShack stock as a 401(k) investment." [Singh v. Radio Shack, No. 4:14-cv-00959-O (N.D. Tex., filed Nov. 25, 2014)]

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