Class of 250,000 401(k) Investors Get Trial Against Lowe’s, Aon

Feb. 16, 2021, 2:37 PM

A class of 250,000 investors in the Lowe’s Cos. Inc. 401(k) plan can go to trial in a lawsuit challenging the company’s decision to move more than $1 billion in plan assets to an underperforming Aon Hewitt fund, after a North Carolina federal judge said he couldn’t resolve the case without weighing evidence and assessing witness credibility.

The three-page order from Judge Kenneth D. Bell of the U.S. District Court for the Western District of North Carolina didn’t include significant analysis of the investors’ Employee Retirement Income Security Act claims against Lowe’s and Aon. Instead, Bell said none of the ...

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