DOL Asks 6th Circ. To Revive KeyCorp ERISA Action

Law360, New York (January 13, 2011, 4:32 PM EST) -- The U.S. Department of Labor has backed a 401(k) plan participant's challenge to the dismissal of her putative class action accusing KeyCorp of violating the Employee Retirement Income Security Act by allowing participants to invest in the company's allegedly inflated stock.

Secretary of Labor Hilda L. Solis filed an amicus brief Wednesday asking the U.S. Court of Appeals for the Sixth Circuit to reverse the district court's Rule 12(b)(1) dismissal of the suit, explaining that she has a strong interest in the legal issue of whether...
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