Bruce Fulmer v. Scott Klein

Randy Kopp, a former employee of Idearc, Inc., filed this action on behalf of himself and a putative class of participants in, and beneficiaries of, Idearc's retirement benefits plan, asserting that the Defendants breached their duties of loyalty and prudence as ERISA fiduciaries "resulting in the depletion of millions of dollars of the retirement savings and anticipated retirement income of the Plan Participants." The District Court dismissed Kopp's Third *217 Amended Complaint for failure to state a claim. We affirm.

I

Idearc was the directory operations arm of Verizon Communications, Inc. until…