Aon Scores Victory After Trial in Lowe’s 401(k) Class Action

Aon Hewitt Investment Consulting Inc. defeated a class action challenging its management of the Lowe’s 401(k) plan, when a North Carolina federal judge said the company didn’t breach its duties in suggesting a plan redesign and an underperforming proprietary fund.

Aon acted loyally and prudently in recommending changes to the plan’s investment lineup that were consistent with industry research and the thinking of other financial consultants, Judge Kenneth D. Bell of the U.S. District Court for the Western District of North Carolina said in a lengthy opinion issued after a five-day trial. Aon’s decision to add its proprietary Aon Growth ...