Home Depot, Workers Both Seek Early Win In 401(k) Class Suit

By Alexis Shanes (July 13, 2021, 5:40 PM EDT) -- Home Depot Inc. and a group of hundreds of thousands of current and former employees have launched dueling bids for summary judgment in a $140 million class action accusing the home improvement retailer of mismanaging its multibillion-dollar 401(k) plan at workers' expense.

Home Depot and several subsidiary financial entities on Monday urged U.S. District Judge William Ray II to grant summary judgment on the plaintiffs' Employee Retirement Income Security Act claims, which alleged the plan improperly offered poorly performing investment options and pricey advisory services to participants.

"Plaintiffs' complaint alleged the existence of other, supposedly comparable, alternatives that cost less or...

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