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Bunch v. W.R. Grace: What a Breach of Fiduciary Duty Doesn't Look Like
Stephen Rosenberg, The Wagner Law Group [Guidance Overview] Feb. 2, 2009 Excerpt: I cannot do better by anybody interested in fiduciary obligations under ERISA than to recommend to you the First Circuit's decision the other day in Bunch v. W.R. Grace & Co.. For those of you not familiar with the lower court proceedings in that case, what was at issue is whether it was a breach of fiduciary duty to sell company stock, rather than maintain it as an investment option, after retaining outside advisors to investigate the stock's value, potential and appropriateness as an investment option. |
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