Home Depot Wants ERISA Class Action Tossed

By Tina Peng

Law360, New York (December 09, 2009, 1:08 PM ET) -- Home Depot Inc. has asked a federal court to toss a putative class action lodged by employees who alleged the home improvement retailer violated its fiduciary duty by allowing its retirement plan to invest in company stock while corporate officials were backdating stock options.

Home Depot filed its motion to dismiss Tuesday in the U.S. District Court for the Northern District of Georgia, saying the plaintiffs had failed to state any viable claims.

The retailer maintained that the plaintiffs seek to impose liability for the breach...
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