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Lockheed Martin, plaintiffs spar over management of retirement plans

Tuesday - 8/13/2013, 3:21am  ET

Plaintiffs, who say their retirement plans were badly run, were awarded a procedural victory in a federal appeals court over Bethesda-based Lockheed Martin Corp. last week, Reuters reported.

A panel of judges reversed a lower court decision that denied class certification to workers and beneficiaries with investments in a so-called "stable value fund" that Lockheed offered. The lawsuit accused Lockheed of imprudent management, among other things.

© 2013 American City Business Journals, Inc.