DST Systems Defeats 401(k) Suit Over Sequoia Fund Investment

June 26, 2017, 2:11 PM

DST Systems Inc. once again escaped a lawsuit challenging its decision to allow workers to invest their retirement savings in the Sequoia Fund, a mutual fund that was heavily exposed to the stock of controversial drug maker Valeant Pharmaceuticals (DuCharme v. DST Sys., Inc., W.D. Mo., No. 4:17-cv-00022, 6/23/17).

A federal judge ruled June 23 that James DuCharme, the former DST employee who filed a class action against the company earlier this year, was barred by an arbitration agreement from bringing his lawsuit. The agreement required DuCharme to submit individual claims to arbitration, the judge said, and it ...

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