Marshall & Ilsley Workers’ ERISA Suit Tossed

Law360, New York (June 22, 2011, 3:17 PM EDT) -- Financial services firm Marshall & Ilsley Corp. on Tuesday escaped a proposed class action in Wisconsin that alleged the company and its executives had improperly invested pension plan assets in company stock, because the plaintiffs hadn’t shown the stock was worthless.

U.S. District Judge J.P. Stadtmueller issued an order Tuesday dismissing the consolidated complaint, saying that the plaintiffs' own allegations suggested the financial situation of the Wisconsin-based firm did not become dire enough to warrant a significant change to the company's pension plan.

"While the company's...
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