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|Sale of Nabisco stocks at a loss is at issue|
Jump to full article: Winston-Salem (NC) Journal, 2002-05-22
Author: Brian Louis / JOURNAL REPORTER
An employee of R.J. Reynolds Tobacco Co. in Winston-Salem has filed a lawsuit against the company, alleging that it failed to live up to its duty as trustee of its 401(k) retirement plan by selling Nabisco stocks at a loss in January 2000.
The lawsuit filed by Richard G. Tatum of Winston-Salem in federal court in Greensboro last week asks for unspecified damages and class status on behalf of more than 1,000 employees. Tatum declined to comment on the case yesterday.
RJR Tobacco and its parent company, R.J. Reynolds Tobacco Holdings Inc., "believe this lawsuit is without merit and intend to defend it vigorously," RJR said. The company said it has not yet been served with the suit.
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