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Text of Unanimous Supreme Court Opinion: Claim for Ongoing Breach of Fiduciary Duty to Monitor Investments and Remove Imprudent Ones was not Barred by 6-year Statute of Limitations (PDF)
Supreme Court of the United StatesLink to more items from this source
May 18, 2015

"[A] fiduciary normally has a continuing duty of some kind to monitor investments and remove imprudent ones. A plaintiff may allege that a fiduciary breached the duty of prudence by failing to properly monitor investments and remove imprudent ones. In such a case, so long as the alleged breach of the continuing duty occurred within six years of suit, the claim is timely. The Ninth Circuit erred by applying a 6-year statutory bar based solely on the initial selection of the three funds without considering the contours of the alleged breach of fiduciary duty." [Tibble v. Edison Int'l, No. 13-550 (U.S. May 18, 2015)]

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