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Ex-Employees' SunEdison Stock-Drop Suit Nixed Again

Law360 (August 6, 2018, 7:15 PM EDT) -- A New York federal judge on Monday again nixed a suit by former employees of SunEdison Inc. claiming executives of the now-bankrupt renewable energy giant continued to sell stock in spite of its imminent collapse, saying the employees hadn't adequately alleged the executives breached their fiduciary duty.

Ex-SunEdison employees Eric O'Day, Robert Linton and Lee Medina alleged that members of SunEdison's board of directors and investment committee breached their fiduciary duties to the SunEdison defined contribution retirement savings plan under the Employee Retirement Income Security Act...
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