Supreme Court declines to review Lockheed employee class action

The Supreme Court on Monday opted not to hear an appeal filed by Lockheed Martin Corp (LMT), which was contesting a class action lawsuit brought by employees. The lawsuit claims that Lockheed is liable for poor management of its employee retirement plan under the federal U.S. Employee Retirement Income Security Act. Previously, a federal judge said the lawsuit did not meet the requirements to proceed as a class action, but in an August ruling, the 7th U.S. Circuit Court of Appeals threw out that decision. Lockheed then sought Supreme Court review on a threshold issue of whether any of the named plaintiffs had shown they had been harmed.


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