Court Dismisses Lawsuit Over Ferguson Enterprises Retirement Plan Fees
NEWPORT NEWS, Va. — A federal judge recently dismissed a lawsuit alleging that Ferguson Enterprises had mismanaged its employee retirement plan by allowing excessive fees and choosing inappropriate investment options. The decision marks a significant setback for the plaintiffs, who represent a cohort of current and former employees seeking redress for what they claimed were breaches of fiduciary duties under the Employee Retirement Income Security Act (ERISA). The case against Ferguson Enterprises, a major player in the U.S. plumbing supplies market, centered on the argument that the company failed to uphold its responsibilities by causing … Read more