Defense attorneys are hailing a series of recent court victories in lawsuits filed on behalf of employees who lost money in their 401(k) and other retirement plans because of the declining price of their employer’s stock.
The so-called “stock-drop” suits, which were filed under the Employee Retirement Income Security Act of 1974, or ERISA, were brought alongside hundreds of shareholder class actions following the demise of Enron Corp.
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