Vail 401(k) lawsuit dismissed
The plaintiff failed to raise issues with the company's process of selecting and monitoring funds, a judge wrote
January 8, 2021
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Vail Resorts on Wednesday won dismissal of a lawsuit over the Colorado-based skiing company’s 401(k) plan.
The company, which owns and operates numerous ski resorts and retail businesses, was sued in February 2020.
The law firms representing one plaintiff and a proposed class alleged that Vail did not prudently select and monitor the plan’s investment options. Many of the mutual funds within the plan menu were not of the lowest-cost share class available, and the fiduciaries allegedly failed to consider cheaper, passively managed options, the complaint noted.