11th Circ. Revives ERISA Case Against Home Depot

Law360, New York (July 31, 2008, 12:00 AM EDT) -- A federal appeals court has reversed a lower court’s dismissal of a proposed class action brought by former Home Depot employees who alleged the home improvement retailer violated its fiduciary duty by allowing its retirement plan to invest in company stock while corporate officials were backdating stock options.

The U.S. Court of Appeals for the Eleventh Circuit ruled Thursday that the district court erred when it dismissed the former employees’ suit with prejudice, but agreed with its ruling that the former workers failed to exhaust their...
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