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Peabody v. Davis Exposes Potential Risks for Fiduciaries of Eligible Individual Account Plans
Proskauer Rose LLP [Guidance Overview] June 8, 2011 The Court acknowledged that EIAP's are exempt from the duty to diversify, but nevertheless concluded that the fiduciaries had a duty to reduce exposure to company stock in an orderly way, as company profitability abruptly and openly dropped. Although the facts of the case are unique, the ruling may expose potential risks for the fiduciaries of EIAPs.' |
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