The United States Court of Appeals recently shed light on when—and under what conditions—a plaintiff may seek a monetary recovery under § 502(a)(3) of the Employee Retirement Income Security Act (ERISA). Section 502(a)(3)...more
The Second Circuit sent shock waves through the community of ERISA stock-drop practitioners late last year in Jander v. Retirement Plans Committee of IBM by finding plan participants had plausibly alleged a breach of duty of...more
7/26/2019
/ 401k ,
Breach of Duty ,
Certiorari ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Duty ,
IBM ,
Pleading Standards ,
Retirement Plan ,
SCOTUS ,
Stock Drop Litigation ,
Stock Ownership
The U.S. Court of Appeals for the Fifth Circuit recently addressed “the labyrinthine complexities of ERISA law and practice.” Manuel v. Turner Industries Group, LLC, et al., No. 17-30835 (5th Cir. Oct. 1, 2018). ...more
In 2011, the U.S. Supreme Court recognized, for the first time, that some forms of equitable relief could lead to an award of a monetary payment for breach of fiduciary duty under section 502(a)(3) of ERISA, 29 U.S.C. section...more