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|Third Circuit Court Decision Favorably Cites Dissent in Milofsky v. American Airlines|
The ERISA Industry Committee [ERIC]
Aug. 30, 2005
Excerpt: The Third Circuit Court of Appeals in In re Schering-Plough Corporation ERISA Litigation has ruled in favor of a limited subset of ERISA plan participants in their appeal from a Motion to Dismiss. The Third Circuit has held that a subgroup of plan participants may file a derivative action on behalf of an ERISA employee benefits plan under ERISA §502(a)(2) (29 USC §1132(a)(2) for an alleged breach of fiduciary duty.
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