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(Bloomberg) — The U.S. Supreme Court refuses to revive lawsuits that blamed Citigroup Inc. and McGraw-Hill Cos. for the drop in value of employee retirement plans that invested in company stock.
The justices this week let stand federal appeals court rulings that threw out separate worker lawsuits against the two New York-based companies. The appeals court said the companies didn’t breach their duties as plan sponsors by offering the stock in the months before their share prices plunged.
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