Outcome:Very favorable decision.
Description:Jeremy Braden, an employee of Wal-Mart and participant in its employee retirement plan (Plan), brought this putative class action against Defendants/Appellees, Wal-Mart and various executives involved in the management of the Plan. Braden alleges that they violated fiduciary duties imposed by the Employee Retirement Income Security Act (ERISA). Appellees moved for dismissal under Federal Rules of Civil Procedure 12(b)(1) and 12(b)(6). The district court granted the motion. In a resounding victory for Braden, the Eighth Circuit reversed and remanded for further proceedings, finding that Braden had stated plausible claims for fiduciary breach.