February 7, 2018 / 10:58 PM / a year ago

RadioShack officials not liable for employees' 401(k) stock losses

A federal appeals court has rejected claims that RadioShack Corp officials imprudently let employees invest in company stock through their 401(k) retirement plans despite knowing that the electronics chain was careening into bankruptcy.

By a 3-0 vote, a panel of the 5th U.S. Circuit Court of Appeals said on Tuesday that employees failed to show that members of RadioShack’s board and its plan administrative committee breached their fiduciary duties under the federal Employee Retirement Income Security Act.

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

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