Retirees can sue employers who mismanage retirement investments

The 3rd Circuit Court of Appeals has expanded the class in a class-action suit brought by former workers and retirees against their employer. The case centers on Conexant Systems Inc., which offered its own stock among the investment options employees could choose from when structuring their 401(k) plans. The stock fell from $7.42 per share to $1.70 in seven months during 2004 ...