AutoZone Defends 401(k) Plan, Prudential Funds From Class Suit

AutoZone Inc. defended its 401(k) plan from a proposed class action, telling a federal judge in Tennessee that the plan offers a reasonable mix of investment options that allows workers to create portfolios tailored to their needs “at extraordinarily low cost.”

Plaintiff Faith Miller’s “own exhibit” reveals that the plan’s stable value fund is less expensive than the fund Miller says should have been offered instead, AutoZone said in a motion to dismiss filed Tuesday. And Miller’s other claims of excessive fees depend on inappropriate comparisons between different types of funds that necessarily carry different fee levels, the company said. ...