WPP Group USA Inc. escaped a proposed class action on Monday after a federal judge ruled the company and its retirement plan committee didn’t breach their fiduciary duties.
Two former WPP employees’ claims for a breach of duty of loyalty and challenges to transactions between the retirement plan, the fiduciary, and a party in interest were dismissed with prejudice, Judge John G. Koeltl said in an order in the US District Court for the Southern District of New York. The former employees’ claims for a breach of duty of prudence and breach of duty to monitor were both dismissed without ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.