Voya Stable Value Fund Investor Revives Appeal

An investor who sued Voya Retirement Insurance & Annuity Co. for allegedly earning undisclosed profits from a stable value fund it offered to retirement plans reinstated her bid to revive her lawsuit.

A federal appeals court in New York Dec. 6 reinstated the appeal which was dropped last month subject to reversal upon the parties’ agreement.

The investor lost twice in the district court level.

First, a federal judge in New York dismissed her lawsuit because she lacked standing to bring a fiduciary breach claim under the Employee Retirement Income Security Act. Earlier this year, the judge dismissed the lawsuit ...