White Paper / Retirement, Employee Benefits
Raising the Bar: Supreme Court Resets the Standard for Some ERISA Fiduciaries
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The Supreme Court recently revised the standards for complaints filed in lawsuits against ERISA fiduciaries who manage retirement plans containing company stock. Plaintiff ’s complaints must now assert that defendants could have met their fiduciary duties and not harmed investors by investing in something other than company stock. Until recently, plan fiduciaries had a legal presumption of prudence for their actions in connection with retirement plans containing company stock. The change in the pleading standard for these types of cases emerged through the Amgen case and another decision, Fifth Third v. Dudenhoeffer, which have worked their way through the Federal courts over the last few years.

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