In a recent development, a federal judge in California has thrown out a class-action lawsuit brought by former employees against Cisco. The lawsuit alleged that Cisco had violated federal benefits laws by offering BlackRock funds as investment options in its $16.4 billion 401(k) plan. The judge ruled in favor of Cisco, stating that the former employees failed to provide enough evidence of comparable investments to support their claims.
This decision highlights the importance of thorough research and evidence in legal cases, especially when it comes to complex financial matters like investment options in retirement plans. The judge’s ruling serves as a reminder that lawsuits must be backed up by solid evidence and legal arguments to succeed in court.
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Overall, the dismissal of the class-action lawsuit against Cisco serves as a reminder of the importance of evidence and legal arguments in legal cases. Subscribing to resources like Law360 can help individuals and professionals stay informed and make informed decisions in the rapidly evolving legal landscape.
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https://www.law360.com/articles/1839383/cisco-slips-ex-workers-suit-over-blackrock-funds-for-now