February 23, 2018 / 1:14 AM / in 4 months

Fidelity prevails at 1st Circuit in stable value fund lawsuit

Fidelity Management Trust Co did not breach its duties to investors by choosing overly conservative investments for a stable value fund used in many 401(k) plans, a federal appeals court ruled on Wednesday.

A unanimous three-judge panel of the 1st U.S. Circuit Court of Appeals said it found no evidence that Boston-based Fidelity behaved disloyally toward stable fund investors, affirming a judgment in Fidelity’s favor last year by a lower court.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2HDhGg5

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