Oracle Corp. Blasts Jury Trial Bid in 401(k) Class Action

March 13, 2019, 4:11 PM

Oracle Corp. wants a class action targeting certain investment options in its $12 billion 401(k) plan to be heard by a judge, not a jury.

The company March 12 challenged the investors’ jury demand, saying the Seventh Amendment right to a jury trial doesn’t apply to this case, because it seeks equitable relief rather than legal relief.

Trial by jury has emerged recently as a hot-button issue in Employee Retirement Income Security Act litigation, cropping up in several class actions alleging mismanagement by large 401(k)-style retirement plans.

Courts “across the country” have rejected the right to a jury trial in ...

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