SunEdison Ditches Retirement-Plan Stock Value Suit

Law360, San Francisco (March 24, 2014, 4:24 PM EDT) -- A Missouri federal judge tossed a putative class action by retirement-plan members alleging MEMC Electronics Materials Inc., now SunEdison Inc., illegally hid production problems and thus caused its stock value to fall, ruling Monday there was no evidence the plan should have stopped investing in company stock.

U.S. District Court Judge Henry E. Autrey said the plaintiffs' allegations, despite their factual detail, didn't overcome the so-called “Moench presumption,” under which the plaintiffs must prove that the company bankrolled retirement-plan assets in company stock at a time...
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