A class action suit against Dow, DuPont and other related companies alleging fiduciary breach is tossed out due to insufficient evidence, according to an article from Pensions & Investments. The lawsuit reportedly accused the companies of breaching their fiduciary duties in administering the $23.4 billion DuPont U.S. Pension and Retirement Plan.
The complaint, filed in July, also accused the companies of failing to follow pension plan documents, failing to notify participants of changes to the plan and failing to properly fund the pension plan. After DuPont split into three companies in 2019 – DuPont, Dow and Cortevea – the burden of maintaining the plan fell to Corteva, according to the article. The lawsuit reportedly contended that this was a breach of the companies’ fiduciary duties that jeopardized the success of the retirement plan.
Read the entire article here.
