High Court Turns Down Deere 401(k) Case

Law360, New York (January 19, 2010, 4:32 PM EST) -- The U.S. Supreme Court has declined to hear an appeal of the dismissal of a proposed class action accusing Deere & Co. 401(k) plan fiduciaries of choosing overpriced plans, leaving intact a federal appeals court decision that plan choice and disclosure is sufficient.

Tuesday’s decision to deny a writ of certiorari to the plan members effectively upholds an earlier ruling in the U.S. Court of Appeals for the Seventh Circuit.

The Seventh Circuit ruled in February that Deere's plan managers did not violate their fiduciary duty...
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