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Judge Gives Plaintiffs in LinkedIn ERISA Suit Another Chance
PLANSPONSOR; free registration may be requiredLink to more items from this source
Nov. 19, 2021

"[The District Court judge] agreed with LinkedIn's argument that the plaintiffs have not alleged that any of them actually invested in any of the challenged funds and therefore fail to allege concrete facts demonstrating an injury-in-fact under the standards set by the U.S. Supreme Court in Thole v. U.S. Bank N.A. ... But to the extent that the plaintiffs' claims are based on excessive management fees, [the judge] said, they need not plead their individual investment in any particular fund if those management fees were charged to all plan participants regardless of participants' specific investments." [In re LinkedIn ERISA Litigation, No. 20-5704 (N.D. Cal. Nov. 16, 2021)]

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