Cisco 401(k) Fund Appeal Arguments Called Off Pending SCOTUS Say

An appeal challenging Cisco Systems Inc.’s retirement plan will pause while the US Supreme Court weighs the standard for challenging 401(k) investments, the Ninth Circuit said in an order calling off upcoming arguments.

The case, which accuses Cisco of mismanaging its 401(k) plan by offering poorly performing target-date funds from non-party BlackRock Inc., was scheduled to be argued in the US Court of Appeals for the Ninth Circuit on Sept 2. The court on Tuesday vacated the arguments and put the case on hold until the Supreme Court issues its opinion in Anderson v. Intel Corp. Investment Policy Committee …