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Supreme Court Examines Whether 401(k) Plan Participants Can Sue for Lost Profits Caused by Fiduciary's Failure to Execute Investment Directions
Deloitte via BenefitsLink.com Jan. 10, 2008
Excerpt: The U.S. Supreme Court recently heard oral arguments in LaRue v. ________ on whether a 401(k) plan participant, who suffered losses to his individual account because a plan fiduciary failed to execute his investment directions, could sue the fiduciary to recover the lost profit under ERISA §502(a)(2). The case involves the interplay between ERISA §§ 502(a)(1)(B), 502(a)(2) and 502(a)(3), and revisits the uncertain area of what constitutes 'equitable relief' available under ERISA.
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