Eyewear maker EssilorLuxottica USA Inc. defeated a proposed class action challenging the stable value fund in its 401(k) plan, but workers can try again in an amended complaint.
The plaintiff employees challenged the performance of a fund from Prudential Retirement Insurance & Annuity Co., but they didn’t base this critique on comparisons to sufficiently similar investments, Judge Brantley Starr said in an opinion docketed Tuesday in the US District Court for the Northern District of Texas. The complaint includes only “high-level” information about the funds held up as better alternatives, and it lacks “substantial factual detail concerning their underlying structure, ...
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