MITRE Beats Retirement Plan Fee Lawsuit on Standing Grounds

Nonprofit research and development organization MITRE Corp. on Thursday defeated a proposed class action challenging the fees and investment options in a pair of billion-dollar retirement plans, when a Boston federal judge found the plaintiff lacked standing.

Named plaintiff Aaron Brown invested his retirement plan account in a single fund during the relevant time period, and that fund belonged to the lowest-cost share class and paid no revenue-sharing fees, Judge Richard G. Stearns said in an electronic order. Because Brown’s theory of damages is premised on the plan’s revenue-sharing arrangement, he can’t show how he was personally injured by MITRE’s ...