Baxter Plan Participants Can Sue Under ERISA: Court

Law360, New York (April 4, 2008, 12:00 AM EDT) -- An appeals court has affirmed a decision not to dismiss an Employee Retirement Income Securities Act class action against health care company Baxter International Inc.

An attorney for the plaintiffs said the move shows that employee-shareholders' rights under ERISA aren't limited by securities laws.

But a Baxter representative said Friday that the case, in which retirement plan participants claim the defendants breached their fiduciary duty by allowing them to invest in Baxter's stock, had no merit.

The representative said the appellate ruling actually supported the company's...
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