Berkshire Unit Marmon Again Defeats Suit Over 401(k) Plan Funds

Berkshire Hathaway unit Marmon Holdings Inc. again defeated proposed class claims by workers who say their 401(k) plan is filled with customized target date funds that performed poorly.

The lawsuit against the consulting services company centers on allegations of investment underperformance of no more than 2% over a period of just two years, Judge Jeffrey I. Cummings said. This isn’t a substantial or lengthy enough underperformance to support a claim that Marmon breached its fiduciary duties under the Employee Retirement Income Security Act, Cummings said Tuesday for the US District Court for the Northern District of Illinois.

“Plaintiffs do not ...