8th Circ. Won't Revive ERISA Suit Over Target Canada Flop
Law360 (July 28, 2020, 9:54 PM EDT) -- The Eighth Circuit refused Tuesday to revive a proposed ERISA class action accusing Target of failing to protect workers' retirement savings from losses caused by an "ill-fated expansion into Canada," finding their claims fell short of what's required under legal precedent.
In its opinion, the three-judge panel affirmed the district court's dismissal of the Employee Retirement Income Security Act suit against Target Corp. and several senior executives over the handling of the company's employee stock ownership plan.
Ultimately, the plan participants' claims that Target breached its fiduciary duties by not acting on information about the troubles in Canada didn't pass muster...
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