Kraft Can't Shake ERISA Class Action

Law360, Los Angeles (July 19, 2011, 6:40 PM EDT) -- An Illinois federal judge overseeing a class action accusing Kraft Foods Global Inc. and related companies of mismanaging a $3 billion employee retirement fund limited the scope of the plaintiffs’ claim Thursday but largely denied Kraft’s motion for summary judgment.

The lawsuit on behalf of current and former plan participants alleges that the companies violated their fiduciary duty under the Employee Retirement Income Security Act by investing employee 401(k) savings in two actively managed funds that they expected to underperform relative to comparable passive investment alternatives....
To view the full article, register now.