UTC Class Action Over 401(k) Plans Tossed

Law360, New York (March 4, 2009, 12:00 AM EST) -- A federal court has dismissed an Employee Retirement Income Security Act class action against United Technologies Corp., ruling that the aerospace and building systems manufacturer did not mislead participants about the operations of its employees' 401(k) plans.

In a decision handed down Tuesday in the U.S. District Court for the District of Connecticut, Judge Warren W. Eginton granted summary judgment to UTC, dismissing plaintiffs' claims that the company and its pension investment and administration committees breached their fiduciary duties under ERISA regarding the management of mutual...
To view the full article, register now.