Benefits & Executive Compensation News

Oracle Says New Expert Opinion Tanks 401(k) Fee Class Action

Aug. 15, 2019, 6:07 PM

Oracle Corp. renewed its efforts to end a class action challenge to its 401(k) plan, telling a federal judge that the plan participants’ expert witness changed his opinion in a way that tanks their case.

Oracle wants permission to file another summary judgment motion based on recent statements made by the plan participants’ expert witness, Gerald Buetow. Oracle’s request comes five months after Judge Robert E. Blackburn of the U.S. District Court for the District of Colorado ruled for the company on all but two of the participants’ claims.

A new motion is warranted because Buetow “materially modified” his opinions...

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