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The court affirmed in part and reversed in part a judgment in favor of RJR regarding its 401(k) retirement plan. The court agreed that RJR breached its fiduciary duty of procedural prudence by liquidating two Nabisco stock funds from the plan without proper investigation. However, the district court applied the wrong legal standard in finding that RJR met its burden to prove the breach did not cause loss. The appellate court remanded for application of the correct standard - whether a prudent fiduciary coul

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Scribd Government Docs
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