The U.S. Supreme Court refused a Lockheed Martin attempt to block a class action lawsuit claiming breach of fiduciary duty by managers of the company’s 401(k) plan.

The Supreme Court let stand an August decision by the U.S. 7th Circuit Court of Appeals allowing the case, Abbott v. Lockheed Martin Corp., to proceed on behalf of more than 100,000 employees and retirees of the aircraft maker. The 7th Circuit, based in Chicago, had reversed a decision denying certification of the class.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.