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Text of Seventh Circuit Opinion: Statute of Limitations Applies Separately to Participants' Knowledge of Flawed Decision Process and to Actual Knowledge of Alleged Breach (PDF)
U.S. Court of Appeals for the Seventh Circuit Link to more items from this source
May 15, 2014
"There is no doubt that the harm alleged by plaintiff was based on the substantive terms of the buy-out, but knowledge of an unwise decision does not amount to 'actual knowledge' of an imprudent process, which is an independent breach of fiduciary duty. The district court's conclusion overlooked the procedural dimension of a fiduciary's duties under ERISA and the ability of a plaintiff to show she was harmed by a fiduciary's substantive decision precisely because the fiduciary violated ERISA by failing to comply with its procedural obligations." [Fish v. Greatbanc Trust Co., No. 12-3330 (7th Cir. May 14, 2014)]

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