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Member, Beacon International Group, Ltd.
A class action lawsuit brought by former employees of SeaWorld Parks & Entertainment Inc. that alleged participants in the retirement plan were harmed by the defendants’ imprudent conduct will proceed, following the ruling of a federal judge in California, Plansponsor reports. The plaintiffs’ arguments supported the fiduciary breach of the duty of prudence allegations, count one, and the second charge, a related count, for the breach of the duty to monitor plan investments and covered service providers, the court order stated.