WASHINGTON Feb 8 A U.S. District Court judge on
Wednesday upheld a controversial Labor Department "fiduciary"
rule governing retirement investment advice, in a stunning
defeat for the business and financial services groups that had
sought to overturn it.
In a stinging 81-page ruling, Chief Judge Barbara Lynn for
the U.S. District Court for the Northern District of Texas
rejected all of the business groups' arguments, saying the Labor
Department did not exceed its legal authority and conducted a
proper economic analysis to justify the rule.
(Reporting by Sarah N. Lynch; Editing by Leslie Adler)