Cisco Workers’ BlackRock 401(k) Fund Suit Dismissed For Good

A lawsuit challenging the BlackRock Inc. target date funds in Cisco Systems Inc.'s retirement plan was dismissed for the third and final time after a federal judge said the latest complaint still lacked meaningful benchmarks.

The Cisco plan participants can’t paint the funds as poor performers by comparing them to a newer suite of BlackRock funds, because the newer suite lacked performance history to guide the plan’s investment decision and because there’s no indication the Cisco plan fiduciaries should have known that this suite existed, Judge Edward J. Davila of the US District Court for the Northern District of California ...