401(k) Plan Participant's Fiduciary Duty Claims Are Dismissed By N.Y Federal Judge

NEW YORK - A 401(k) plan participant failed to sufficiently plead that the plan fiduciaries breached their fiduciary duties by imprudently selecting and monitoring the plan funds and by allowing excessive fees and expenses to be charged, a federal judge in New York ruled March 6 in granting the fiduciaries' motion to dismiss (Bruce Laboy v. Board of Trustees of Building Service 32 BJ SPRSP, et al., No. 11 Civ. 5127, S.D. N.Y.; 2012 U.S. Dist. LEXIS 29718).
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