Kimberly-Clark Slams Workers' Latest Stab At 401(k) Suit
By Rachel Stone (May 23, 2022, 2:08 PM EDT) -- Kimberly-Clark urged a Texas federal court to throw out a proposed class action challenging allegedly excessive administrative fees paid by workers in the company's $4 billion retirement plan, arguing revisions to the suit hadn't fixed problems the court flagged in March.
In a motion to dismiss filed Friday, Kimberly-Clark argued that while April's amended complaint knocked off some defendants — including the board of directors — and a breach of loyalty claim under the Employee Retirement Income Security Act, the tweaks to the suit were surface-level and did nothing to reverse the key issues that plagued the pleadings.
"Despite the opportunity...
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