Two Blackrock Target Date Fund cases dismissed

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Two lawsuits questioning the prudence of plans holding the BlackRock Lifepath target-date funds were thrown out.

The two suits, one involving Capital One Financial Corp., and the other involving Booz Allen Hamilton were both dismissed by U.S. District Judge Michael S. Nachmanoff.

The judge rejected arguments that the BlackRock funds could be compared with similar funds without considering different strategies, glide paths and investments.

Plaintiffs have 14 days to file an amended complaint.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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