Law360 has reported the U.S. District Judge Brantley Starr granted a motion to dismiss for McKool Smith client Coca-Cola Southwest Beverages LLC in an ERISA lawsuit that claimed the firm breached its fiduciary duties of prudence and loyalty in managing its 401(k) plan. Judge Starr said that the four finds that were identified in the complaint were actively managed and concluded that the claims involving forfeited funds were insufficient, noting that the workers’ theory sought to establish a benefit not permitted under ERISA or the terms of the plan.
Coca-Cola Southwest Beverages is represented by Principal Robert Manley.
The full article can be found here.