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Judge Rejects Petition to Throw Out AutoZone ERISA Lawsuit
Pensions & Investments Sept. 23, 2020 "The participants ... [argued] that AutoZone fiduciaries violated ERISA by retaining GoalMaker, an asset allocation service ... which allegedly steered participants' investments into high-cost investment options.... The judge ruled that plaintiffs had provided enough information to allow the complaint to go to trial regarding the use of GoalMaker; the retention of a stable value fund; the use of actively managed mutual funds and separate accounts; the fiduciaries' methodology for selecting investment share classes; and the comparing of record keeping fees to benchmarks." [Miller v. AutoZone, Inc., No. 19-2779 (W.D. Tenn. Sep. 18, 2020)] |
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