A federal appeals court has booted a proposed class action by former employees of an Ohio bank who alleged their retirement accounts took a beating when the company made bad investments.
The U.S. Court of Appeals for the Sixth Circuit on March 26 affirmed a lower court’s dismissal of the complaint in Thomas Metyk and Anthony Lobasso v. KeyCorp. The U.S. District Court for the Northern District of Ohio had dismissed the case for failure to state a claim. The court of appeals opinion is here.
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