via Wall Street Journal
WASHINGTON—The Supreme Court on Tuesday signaled it was likely to side with 401(k) investors in a case that examines when workers can sue businesses for offering high-cost mutual-fund options in retirement plans when cheaper options are available.
The justices, in a case examining the 401(k) offerings by energy holding company Edison International , suggested a San Francisco-based federal appeals court was wrong when it held a legal time limit barred employees from suing over allegedly higher-cost funds that had been offered as options in the 401(k) for more than six years.
The Supreme Court’s hourlong oral argument largely proceeded on the assumption the appeals court applied the time limit too strictly. Justice Samuel Alito said both sides in the case seemed to agree that such lawsuits are “not categorically barred.”
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