ST. LOUIS - A participant in Wal-Mart Stores Inc.’s 401(k) plan stated a breach of fiduciary duty claim against the store and its executives sufficient to defeat a motion to dismiss by alleging facts from which it could be inferred that Wal-Mart’s process for deciding which funds to offer as investments was flawed, the Eighth Circuit U.S. Court of Appeals ruled Nov. 25 in reversing the trial court’s dismissal of the participants’ claims under the Employee Retirement Income Security Act (Jeremy Braden v. Wal-Mart Stores, Inc., et al., No. 08-3798, 8th Cir.; 2009 U.S. App. LEXIS 25810).
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