Olin Corp. Workers Lose Bid to Revive 401(k) Plan Fee Challenge

Missouri-based ammunition maker Olin Corp. is free of a proposed class action challenging the fees in its $930 million 401(k) plan, after a federal judge said it would be futile to allow the plan participants to file a new complaint.

The participants’ amended complaint still lacks the details needed to state viable fiduciary breach claims under the Employee Retirement Income Security Act, Judge Stephen R. Clark of the US District Court for the Eastern District of Missouri said Tuesday.

In particular, the participants didn’t bolster their challenge to the plan’s recordkeeping fees with details about what services were provided in ...