Chamber Backs Home Depot In Massive ERISA Class Action

By Kellie Mejdrich (December 20, 2021, 8:01 PM EST) -- The U.S. Chamber of Commerce wants a Georgia federal court to throw out a sweeping class action accusing Home Depot Inc. of mismanaging the retirement savings of hundreds of thousands of current and former workers.

The business group asked for permission Friday to file an amicus brief in support of the home improvement retailer, which is seeking to torpedo a suit accusing it of violating the Employee Retirement Income Security Act by offering poorly performing investment options and pricey advisory services to participants in its multibillion-dollar 401(k) plan.

The Chamber's proposed brief argued that the lawsuit against Home Depot was indicative of...

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