US Supreme Court to Put Back IBM Retirement Plan Case

• The lawsuit claims IBM plan managers didn’t do enough to protect employees from stock losses stemming from a money-losing chip manufacturing unit.

The US Supreme Court returned a case over International Business Machines Corp (IBM) retirement plans to a lower court, telling it to decide whether to consider new arguments being made by company officials and the Trump administration.

The lawsuit claims IBM plan managers didn’t do enough to protect employees from stock losses stemming from a money-losing chip manufacturing unit.

IBM officials say the suing employees needed to be more specific in their lawsuit about how administrators could have shielded the plan from the stock drop.

The case is Retirement Plans Committee of IBM v. Jander, 18-1165.

(Except for the headline, this story has not been edited by Scrabbl staff and is published from a syndicated feed.)