Retirement Plan Consultants
Hochheiser Deutsch & Co, Inc.
Loren D. Stark Company
Compass Retirement Consulting Group, Inc.
Trucker Huss, A Professional Corporation
Bates & Company
Carpenter Morse Group
ERISA Services, Inc.
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|Text of Ninth Circuit Opinion Amending Harris v. Amgen in Consideration of Supreme Court's Dudenhoeffer Decision (PDF)|
U.S. Court of Appeals for the Ninth Circuit
May 27, 2015
63 pages. Excerpt from the syllabus: "In the amended opinion, on remand from the United States Supreme Court for reconsideration in light of Fifth Third Bancorp v. Dudenhoeffer, the panel reversed the district court's dismissal of a class action brought by current and former employees of Amgen, Inc., and an Amgen subsidiary under [ERISA], alleging breach of fiduciary duties regarding two employer-sponsored pension plans.... The panel held that the plaintiffs sufficiently alleged that the defendants violated their duty of loyalty and care by failing to provide material information to plan participants about investment in the Amgen Common Stock Fund. Agreeing with the Sixth Circuit, the panel held that the defendants' preparation and distribution of summary plan descriptions, including their incorporation of Amgen's SEC filings by reference, were acts performed in their fiduciary duty. The panel also reversed the dismissal of derivative claims, as well as a claim that the defendants caused the plans directly or indirectly to sell or exchange property with a party-in-interest." [Harris v. Amgen, No. 10-56014 (9th Cir. May 26, 2015)]
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