Franklin Resources Execs Off Hook In ERISA MDL

Law360, New York (September 8, 2009, 6:55 PM EDT) -- Plaintiffs in a multidistrict class action over employee retirement fund investments have dismissed two Franklin Resources Inc. executives from the suit.

Representatives for the defendants and for the lead plaintiff for the consolidated class claims filed a motion to dismiss Charles B. Johnson and Rupert H. Johnson Jr. without prejudice and without costs Thursday in the U.S. District Court for the District of Maryland.

The lead plaintiff, the Deferred Compensation Plan for Employees of Nassau County, filed its complaint in 2004.

The complaint, in the litigation's...
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