Benefits & Executive Compensation News

Oracle Workers Latest to Be Denied Jury Trial in 401(k) Row

May 31, 2019, 11:19 AM

Oracle Corp. won’t face a jury trial in a 70,000-person class action targeting the investment options in the company’s $12 billion 401(k) plan.

Judge Robert E. Blackburn of the U.S. District Court for the District of Colorado followed a recent decision denying a jury trial to Banner Health employees bringing similar claims against their 401(k) plan. The Oracle lawsuit brings equitable claims and seeks equitable relief, meaning it must be heard by a judge and not a jury, Blackburn said in a May 30 order.

The California software company is accused of draining more than $40 million from its retirement...

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