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Court Decides More Facts Needed in Stock Drop Suit
PLANSPONSOR; free registration may be required [Guidance Overview] Apr. 5, 2011
The [District Court] ruled that the presumption of prudence is not enough to dismiss claims a company breached its [ERISA] fiduciary duties relating to offering company stock as an investment option. [The judge] noted that despite the prevalence of the presumption established in Moench v. Robertson, it is not universally accepted, and several courts have found that the application of the presumption is inappropriate at the Motion to Dismiss stage.
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