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Seventh Circuit Court of Appeals Rejects DOL's Position on Standard of Review for Trustee's Decision (PDF)
Morgan Lewis 
May 16, 2006
2 pages. Excerpt: In a very important decision for ESOP trustees and other ERISA fiduciaries in a case involving an allegation of an erroneous valuation of employer securities held by an ESOP, the Seventh Circuit Court of Appeals has held that the standard of judicial review of the decisions of an ERISA trustee is deferential unless there is a conflict of interest. Armstrong v. LaSalle Bank National Association, Case No. 053417 (7th Cir. 2006).
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