When Does Pension Fund's Law Firm Stop Being Merely a Professional Legal Adviser and Instead Become a Fiduciary Under ERISA?

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When Does Pension Fund's Law Firm Stop Being Merely a Professional Legal Adviser and Instead Become a Fiduciary Under ERISA?
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[Guidance Overview]
Jan. 26, 2010

Excerpt: U.S. District Judge Stephen J. Murphy III ruled that the Southfield, Michigan-based Sullivan, Ward, Asher and Patton, P.C., law firm could be found to have become an ERISA fiduciary if a union pension fund's allegations against it were ultimately proven. Among the charges: that the law firm made several key decisions on legal matters concerning the pension fund -- including a lawsuit settlement offer in a suit against consultant Watson Wyatt -- without consulting the fund's trustees.

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