Judge issues split decision for Schneider Electric, Aon in ERISA case
Schneider Electric building and offices.
A federal court judge in Boston has issued a divided opinion regarding allegations by participants in a Schneider Electric Holdings Inc. retirement plan that plan fiduciaries and its former investment consultant violated their ERISA obligations.
Schneider and the investment consultant, Aon Hewitt Investment Consulting — now known as Aon, filed separate motions to dismiss the lawsuit after the initial complaint was filed in May 2020.
On March 26, U.S. District Judge Nathaniel M. Gorton supported requests by both defendants to dismiss certain complaints, but he rejected their requests to dismiss other allegations of ERISA violations in the case of Turner et al. vs. Schneider Electric Holdings Inc. et al.