Estee Lauder Says 'Cherry-Picked' ERISA Suit Is The Pits
Law360 (December 8, 2020, 8:34 PM EST) -- Estee Lauder is urging a New York federal court to ax a proposed class action claiming the cosmetics giant's billion-dollar 401(k) plan offered badly performing, costly investment options, arguing the workers behind the suit are simply second-guessing reasonable decisions.
On Monday, the company filed a motion to dismiss an Employee Retirement Income Security Act lawsuit from four former employees and one current employee, arguing that the plaintiffs didn't invest in several of the mutual funds they took issue with. And beyond that, their lawsuit fails to lay out allegations that were detailed enough to keep the case in court, Estee Lauder...
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