Citigroup Plan Participants' ERISA Claims Trimmed

Law360, New York (March 16, 2010, 6:59 PM EDT) -- A federal judge on Tuesday trimmed two Citigroup Inc. workers' Employee Retirement Income Security Act claims in a putative class action accusing the managing committees of the bank's 401(k) plan of failing to act in the plan's best interests.

Judge Sidney H. Stein of the U.S. District Court for the Southern District of New York concluded that the plaintiffs had stated a plausible claim pursuant to its accusation that the committee members acted imprudently by steering the plan assets to affiliated mutual funds with higher investment...
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