Benefits & Executive Compensation News

Oracle Can’t End 401(k) Class Action by Dinging Expert Witness

Sept. 27, 2019, 6:43 PM

Oracle Corp. can’t end a class action challenge to its 401(k) plan by arguing that the plan participants’ expert witness torpedoed their case by changing his mind, a federal judge in Colorado ruled.

Judge Robert E. Blackburn blocked Oracle from filing a new summary judgment motion, saying Oracle knew about a weakness in the expert’s opinion months ago but “inexplicably” opted not to challenge it in a timely fashion.

Oracle in August asked Blackburn for permission to file another summary judgment motion based on recent statements made by the plan participants’ expert witness, Gerald Buetow. According to Oracle, Buetow “materially...

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