DST Hit With ERISA Suit Over Valeant Stock Drop

Law360 (November 6, 2018, 4:09 PM EST) -- A pair of participants in a DST Systems Inc. retirement plan have hit the information processing firm with a lawsuit in New York federal court claiming that plan assets had been imprudently invested in Valeant Pharmaceuticals International Inc. stock, which eventually tanked.

DST Systems Inc. 401(k) Profit Sharing Plan participants Mark Mendon and Jill Pehlman brought their Employee Retirement Income Security Act lawsuit on Monday against DST Systems Inc., SS&C Technologies Holdings Inc. — the company that has since acquired DST — and Ruane, Cunniff & Goldfarb Inc., an investment adviser for the plan.

By the close of 2014, Valeant stock would make...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!