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Fifth Circuit Holds Participants Lack Standing to Challenge Plan Investment Options
Proskauer 
Aug. 6, 2021 "[B]ecause plaintiffs did not transfer out of the demand-deposit fund even when a stable value option became available, the Court found it unlikely that plaintiffs would have invested in a stable value option even if the demand-deposit fund was never available. Accordingly, the Court held that to the extent plaintiffs suffered injuries, those injuries were caused by their own investment decisions and not by defendants." [Ortiz v. American Airlines, Inc., No. 20-10817 (5th Cir. Jul. 19, 2021)] |
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