Stanley Black & Decker Workers Reaffirm BlackRock Fund Criticism

Stanley Black & Decker Inc. employees challenging the BlackRock Inc. target date funds in their 401(k) plan urged a federal judge to allow the case to move forward, saying the company’s motion to dismiss rests on “mischaracterizations” of the dispute.

The workers’ amended complaint includes factual allegations leaving “no question” that Stanley’s retirement committee breached its duties by failing to investigate and replace the BlackRock funds when they fell short of the standards set by internal investment policies, the workers said in a Monday court filing.

Stanley said in its motion to dismiss that the case hinged on allegations ...