3rd Circ. Won't Revive Unisys, Fidelity ERISA Suit

Law360, New York (August 19, 2011, 3:30 PM EDT) -- The Third Circuit on Friday refused to revive a putative class action that accused Unisys Corp. and Fidelity Management Trust Co. of breaching their duties to retirement plan participants by inadequately investigating investment options into which plan contributions could be allocated.

Plaintiffs Mark Renfro and Gerald Lustig initially brought the case in California under the Employment Retirement Income Security Act of 1974 as representatives of a proposed class of participants in a 401(k) defined contribution plan, asserting that Unisys and Fidelity had breached their fiduciary duties...
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