Stanley Black & Decker Workers’ BlackRock 401(k) Suit Moves Ahead

Stanley Black & Decker Inc. employees challenging their BlackRock Inc. investment funds funds in their 401(k) plan can move forward with their class action lawsuit, a federal judge has ruled.

Stanley’s motion to dismiss the workers’ amended complaint was denied by US District Court for the District of Connecticut Judge Stefan R. Underhill Wednesday.

The workers, led by James Kistler and Lisa Lang, allege 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 Employee Retirement Income Security Act suit is ...