ABB, Fidelity Lose Bids To Dismiss ERISA Suit

Law360, New York (February 13, 2008, 12:00 AM EST) -- A judge has shot down dismissal bids by ABB Inc., Fidelity Management & Research Co. and Fidelity Management Trust Co. in an ERISA class action brought by participants in ABB's 401(k) plan, who are accusing the defendants of breaching their fiduciary duty.

U.S. District Judge Nanette K. Laughrey signed an order on Monday rejecting separate motions by ABB and the Fidelity defendants, as well as a motion from all defendants seeking to have the plaintiffs' claims for damages predating Dec. 29, 2000, thrown out.

Jerome Schlichter,...
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