On September 30th, the Ninth Circuit affirmed the entry of summary judgment in favor of defendants, 401(k) plan fiduciaries. Plaintiffs, participants in their employer's 401(k) plan, alleged defendants imprudently invested plan assets in the employer's stock and made negligent misrepresentations. The Court adopted the rebuttable "Moench presumption" that fiduciaries acted consistently with ERISA in their decisions to invest plan assets in employer stock and held plaintiffs failed to rebut that presumption. Quan v. Computer Sciences Corp.