After eight years of legal wrangling, a trial date been set for the thousands of Lockheed 401(k) participants suing their employer for alleged breach of fiduciary duty.
The case of Abbot v. Lockheed Martin Corp. has seen appeal of district court finding by both the plaintiffs and defendants, and even a recent trip to the U.S. Supreme Court, which kicked the case back to the U.S. Southern District Court of Illinois, where the claims were first filed.
U.S. District Judge Michael Reagan set a tentative trial date of Dec. 1 for the trial to begin.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
