9th Circ. Affirms Toss Of ERISA Action Against NEA

Law360, New York (December 21, 2010, 5:32 PM EST) -- A federal appeals court has affirmed the dismissal of a $1 billion proposed Employee Retirement Income Security Act class action against the National Education Association and two insurers, which alleged the teachers union's aggressive marketing of an unattractive annuities plan duped members into selecting it.

The U.S. Court of Appeals for the Ninth Circuit ruled Monday that Judge Ronald B. Leighton of the U.S. District Court for the Western District of Washington correctly determined the plaintiffs failed to state a claim because the NEA Valuebuilder plan...
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