Dell wins motion to dismiss plaintiffs' prudence-based claims and plaintiffs dismiss remaining individual claims after court dismisses parallel securities litigation
Clients Dell Inc.
Jones Day represented Dell Inc. and various officers and directors in a consolidated class action filed in the Western District of Texas. The suits alleged that defendants imprudently invested and managed Dell's 401(k) Plan by investing in the Company's shares and failed to disclose information regarding the company's stock. The Court granted defendants' motion to dismiss with respect to the plaintiffs' prudence-based claims, but permitted plaintiffs' disclosure-based claims to proceed. 563 F. Supp. 2d 681 (W.D. Tex. 2008). After class proceedings on the disclosure claims began and the Court dismissed the parallel securities litigation with prejudice, the ERISA plaintiffs stipulated to the dismissal with prejudice of their individual claims with prejudice.
In re Dell Inc. ERISA Litig., No. A-06-CA-758-SS (W.D. Tex.), 563 F. Supp. 2d 681