By Abby Wargo (June 22, 2022, 6:52 PM EDT) -- A Missouri federal judge tossed a suit accusing Olin Corp. and its board of directors of mismanaging its $930 million 401(k) plan, ruling that the case was predicated on false comparisons.
U.S. District Judge Stephen R. Clark on Tuesday granted the manufacturing company's motion to dismiss Malika Riley and Takeeya Sharonte Reliford's proposed class action challenging what they said were excessive fees on the company 401(k) plan. Judge Clark said their claims did not hold enough water for the case to continue.
"Riley and Reliford's sparse allegations do not provide a meaningful benchmark against which the court can evaluate their claim,"...
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