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The Moench Presumption Is Dead; Long Live the Dudenhoeffer Presumption
Benefits Bryan Cave Link to more items from this source
July 17, 2014
"The Court noted that ERISA fiduciaries have little hope of outperforming the market, and so may, as a general matter, prudently rely on market price. Under this standard, is it even possible to plead a breach of fiduciary prudence as it relates to investment decisions involving a publicly-traded company stock fund? ... Unlike the Moench presumption, which was rebuttable, the Dudenhoeffer presumption appears to be virtually irrebuttable. To our brethren in the plaintiffs' bar who make their living handling stock drop cases, we offer the following words of encouragement: Good luck with that." [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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