No Monetary Relief For Breach Related To Alternative Investments, Judge Rules

SEATTLE - Participants in a defined benefit plan sponsored by Weyerhaeuser Co. have standing to pursue claims for injunctive relief but do not have standing to bring legal claims for monetary relief related to their allegations that the company and its investment managers violated the Employee Retirement Income Security Act by investing in a large number of alternative investments that allegedly contributed to the plan's losing approximately $2.4 billion in 2008, a federal judge in Washington ruled Aug. 23 (Michael Palmason v. Weyerhaeuser Company, et al., No. 2:11-cv-00695-RSL, W.D. Wash.; 2013 U.S. Dist. LEXIS 120424).

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