- Category
- Client Alerts
- Date
- June 30, 2014
- Title
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Securities Litigation and Employee Benefits Alert: Supreme Court Rejects Presumption of Prudence for ESOP Fiduciaries and Imposes Limits on ERISA 'Stock Drop' Claims
This alert examines the Supreme Court’s June 25, 2014 ruling in Fifth Third Bancorp. The Court held that ESOP fiduciaries are not entitled to a "presumption of prudence" in connection with investments in company stock holdings, but made clear that Fed. R. Civ. P. 12(b)(6) continues to serve as a powerful tool for defendants to dispose of meritless ERISA claims challenging plan investments.
Related People
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Arthur H. Aufses III
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- Counsel
- Co-author
- New York
- vcard
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Alan R. Friedman
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- Counsel
- Co-author
- New York
- vcard
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