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11th Circuit Adopts Moench Standard in Suit Over Home Depot ESOP (PDF)
Justia.com Link to more items from this source
[Official Guidance]
May 9, 2012

"Because the purpose of a plan is set by its settlors (those who created it), that is the same thing as saying that a fiduciary abuses his discretion by acting in compliance with the directions of the plan only when the fiduciary could not have reasonably believed that the settlors would have intended for him to do so under the circumstances. That is the test.... The defendants were not required to depart from the Plan's directives regarding Home Depot stock just because they were aware that the stock price likely would fall."  MORE >>

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