Massachusetts Mutual Life Insurance Co. defeated a proposed class action by a former employee challenging the in-house investment options offered in the company’s $4.1 billion retirement plan.
Judy Lalonde’s lawsuit rests on allegations of modest investment underperformance that reflects “the inherent vagaries of investing in the market,” Judge Mark G. Mastroianni said. Her claims challenging the plan’s fee levels are similarly insufficient, he said, because they’re not based on valid comparisons.
Mastroianni’s opinion, issued March 29 in the US District Court for the District of Massachusetts, found other flaws in the lawsuit. In particular, he said portions of the ...
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