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20-Year-Old Presumption of Prudence Rejected by Supreme Court
Warner Norcross & Judd LLP Link to more items from this source
July 24, 2014

"At first glance the elimination of the presumption of prudence would appear to be a negative change for all ESOPs, but a review of litigation from 1995-2013 found no decisions involving closely held companies and the presumption of prudence. And although the new standard articulated by the Supreme Court is undoubtedly helpful for fiduciaries of publicly traded companies who invest in employer stock in their retirement plans, it provides little helpful guidance for ESOP fiduciaries in closely held companies." [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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