An Invacare Corp. employee can go forward with her proposed class action alleging the medical device manufacturer breached its fiduciary duties by allowing employees to invest their retirement money in company stock when the company was facing Food and Drug Administration fines, a federal court in Ohio ruled (Murray v. Invacare Corp., N.D. Ohio, 1:13-cv-01882-DCN, 8/28/15).
Denying Invacare’s motion to dismiss, the U.S. District Court for the Northern District of Ohio ruled Aug. 28 that the employee sufficiently alleged that prudent fiduciaries would have disclosed the FDA violations to employees investing in Invacare stock.
The case is ...
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