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Determining ERISA Duties Post-Dudenhoeffer
Alston & Bird LLP Mar. 29, 2015 "The potential harm and disruption of requiring ERISA fiduciaries to take it upon themselves to make public disclosures about employer securities is enormous. Any duty of disclosure that did not match exactly and precisely the duties imposed by the specific regulations and jurisprudence of the securities laws would be potentially devastating to the carefully crafted and well-known disclosure obligations that already exist.... [T]here is no reasoned basis for ERISA plan participants to receive more, different or better information about public company investments than the market as a whole.... As the Supreme Court acknowledged in Dudenhoeffer, ERISA fiduciaries must consider whether their actions will cause 'more harm than good.' " |
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