"Although the instant dispute didn't involve the type of employer stock plan at issue in [Fifth Third Bancorp v. Dudenhoeffer], BNY Mellon argued that this decision foreclosed the Teamsters plan from arguing that the bank should have realized from publicly available information that Lehman's debt was overvalued. [U.S. District Court Judge John R. Blakey] disagreed ... explaining that the Teamsters plan argued only that it was imprudent for BNY Mellon to hold Lehman debt given the 'circumstances existing in the market' and the Teamsters plan's 'investment profile.' This claim remained viable following Dudenhoeffer, Blakey concluded." [Teamsters Local 710 Pension Fund v. The Bank of N.Y. Mellon Corp., No. 1:13-cv-01844 (N.D. Ill. Mar. 16, 2015)]

MORE >>