DOL Tells 7th Circ. Bar Was Too High In 401(k) Suit

Law360, New York (June 1, 2012, 6:01 PM EDT) -- Two retirement plan participants who sued Marshall & Ilsley Corp. shouldn't have had to show that the company's stock was in danger of becoming worthless in order to keep their proposed class action alive, the U.S. Secretary of Labor told the Seventh Circuit on Wednesday.

A district court erred when it dismissed former Marshall & Ilsley employees Linda White and Charlene Roundtree's Employee Retirement Income Security Act case because they didn't plead facts that plausibly suggested that the company's viability was threatened and that its stock...
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