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Supreme Court Rejects Presumption for ERISA Fiduciaries, But Stock-Drop Claims Will Be Difficult to Sustain
Choate Hall & Stewart LLP Link to more items from this source
July 15, 2014
"ESOP fiduciaries should consider reviewing existing procedures for monitoring company stock investments; engaging an independent fiduciary to make decisions on buying, holding and selling company stock; and reviewing ERISA fiduciary insurance and D&O policies to determine coverage for claims relating to company stock. Private company ESOPs should consider starting a dialog with their independent appraiser about the prudence of their valuation methods." [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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