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Lockheed Martin Fails to Toss Retirement Mismanagement Lawsuit

2026-04-27 23:11:03

Lockheed Martin must face a class-action lawsuit alleging mismanagement of its employee retirement plans. Employees claim the company offered underperforming target-date funds managed by an in-house subsidiary, which a judge ruled constitutes a viable claim for fiduciary imprudence and disloyalty under ERISA. This decision allows the plaintiffs to proceed with their case challenging the aerospace giant’s retirement investment practices.

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