Workers Paid Fair Price For RadioShack Stock, 5th Circ. Says
Law360 (February 7, 2018, 5:14 PM EST) -- The Fifth Circuit on Tuesday affirmed the dismissal of a proposed class action alleging RadioShack and its board misled employees who invested their retirement savings in company stock, saying the company didn’t overcharge them for stock because it was priced to match the company’s financial turmoil.
The unanimous panel rejected the workers’ claims that the company breached its duty of prudence to them by investing their funds in company stock as it tanked, saying the workers provided “no plausible reason” that they overpaid by buying at market price.
“On the contrary, the overall decline in the price of RadioShack stock during the...
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