Gerdau Ameristeel 401(k) Fee Complaint Lacks Details to Advance

A complaint that says Gerdau Ameristeel US Inc. mismanaged its retirement plan must be dismissed because it doesn’t demonstrate the internal review procedures were exhausted, a federal judge ruled, citing a requirement unique to her circuit.

The plaintiff said the exhaustion was documented in prior court filings and thus “incorporated by reference” into his amended complaint. But these details aren’t included in the amended complaint itself, which is necessary for pleading a viable claim under the Employee Retirement Income Security Act, Judge Virginia M. Hernandez Covington of the US District Court for the Middle District of Florida said in a ...