SunTrust Beats Workers' Untimely ERISA Class Claims

Law360, New York (August 8, 2013, 7:46 PM EDT) -- A Georgia federal judge on Wednesday tossed a proposed class action accusing SunTrust Banks Inc. of breaching its fiduciary duties to employees by including mostly the company's own allegedly underperforming stock in its retirement plan, finding the claims were time-barred.

U.S. District Judge Orinda Evans said the statute of limitations on the putative class members' Employee Retirement Income Security Act claims ran out in 2004, seven years after most of the allegedly poor SunTrust-affiliated investment vehicles were first made available to 401(k) members.

The judge said...
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