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ERISA Stock-Drop Class Actions: As One Door Opens for Plaintiffs, Another Closes
Mayer Brown Link to more items from this source
June 25, 2014
"The Court's decision fundamentally reconfigures the landscape for ERISA stock-drop class actions. Although the rejection of the presumption of prudence is likely to result in more suits against retirement plan fiduciaries, the Court's substantive guidance arms class-action defendants with potent defenses that can be invoked at the motion-to-dismiss stage. The main issue left open by the Court -- when, if at all, fiduciaries must act on nonpublic information -- will be litigated extensively in the lower courts[.]" [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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