Fiduciary Duty Claims Related To Alternative Investments Continue

Fiduciary Duty Claims Related To Alternative Investments Continue

SEATTLE - A federal judge in Washington on April 26 declined to dismiss claims that Morgan Stanley, a fiduciary of Weyerhaeuser Co.'s defined benefit pension plan, 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 (Michael Palmason v. Weyerhaeuser Company, et al., No. 2:11-cv-00695-RSL, W.D. Wash.; 2013 U.S. Dist. LEXIS 60161).

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