Analog Faces Most Claims in Suit Over Retirement Plan Fees

Participants in a Linear Technology Corp. 401(k) plan may proceed with most of their claims against Linear and the company it merged with, Analog Devices Inc., alleging excessive fees, a federal court in California ruled.

Would-be class representative Michael Bouvy sufficiently pleaded claims for breach of the duty of prudence, breach of fiduciary duty, and failure to monitor a fiduciary, Judge Dana M. Sabraw said for the U.S. District Court for the Southern District of California.

The Employee Retirement Income Security Act’s three-year statute of limitations doesn’t bar the claims, and semiconductor maker Analog is a proper defendant, Sabraw said ...