Appeals Court Dismisses Fee Lawsuit Against Deere & Co. and Fidelity

A federal appeals court recently upheld a lower court's ruling that dismissed a lawsuit filed against Deere & Co. and Fidelity alleging breach of fiduciary duty related to fee disclosures.  This is one of 13 other ERISA lawsuits brought by the St. Louis law firm Schlichter, Bogard & Denton.  You can read about the ruling here.

Ryan Alfred from BrightScope also offers a very thorough analysis of the ruling and the potential impact on the other lawsuits brought by Schlicter against companies such as Northrop Grumman, Caterpillar, Kraft Foods, Unisys and Boeing to name a few.