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What Does Spano v. Boeing Foretell About the Future of Excessive Fee Litigation -- and the Future Ruling in Tibble?
Stephen Rosenberg, The Wagner Law Group Link to more items from this source
Jan. 9, 2015

"[In] Spano, you see a much more focused theory, which is not based simply on the premise that the fiduciaries had broadly erred by retaining and never dispensing with high cost funds, and did not essentially allege simply that certain types of investment or operational decisions are essentially wrong per se. Instead, what you see is a narrow focus on specific decisions and activities by which the fiduciary duty was breached, forcing the defendants -- and in turn the Court -- to address not whether the type of conduct in general violates fiduciary norms, but instead whether the particular fiduciaries acted imprudently under the specific circumstances that confronted them; that is a much harder claim to get tossed out by means of motion practice, and the Spano decision reflects that." [Spano v. Boeing, No. 3:06-CV-743-NJR-DGW (S.D. Ill. Dec. 30, 2014)]

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