Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Senior Defined Benefits Consultant

Loren D. Stark Company

Loren D. Stark Company logo

Retirement Plan Administrator

Excellent TPA

Client Service Specialist

EPIC Retirement Plan Services
(Remote / Norwich NY)

EPIC Retirement Plan Services logo

Plan Compliance Analyst (Administrator)


RPA logo

Retirement Plan Administrator - Senior Associate

(Norfolk VA)

PBMares logo

Pension Consultant

Randall & Hurley, Inc.
(Remote / Liberty Lake WA / Helena MT)

Randall & Hurley, Inc. logo

Education Consultant

(Remote / Putnam Valley NY)

Pentegra logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>

Ninth Circuit Again Wrestles with Fifth Third v. Dudenhoeffer, and Again Reverses Dismissal of Another Stock Drop Case
Goodwin ProcterLink to more items from this source
June 26, 2015
"In its amended decision, the Ninth Circuit panel again allowed the complaint to proceed where it claimed that plan fiduciaries should have removed publicly traded stock from the plans when they knew or should have known that material information was being withheld in violation of federal securities laws.... The dissent chided the panel for not paying heed to the Supreme Court's admonition that courts still need to 'weed out meritless lawsuits' under Dudenhoeffer. It expressed concern that under the panel's holding, any complaint alleging that the plan fiduciary could have withdrawn a fund or provided greater disclosure can survive a motion to dismiss, a holding that not only conflicts with Dudenhoeffer, but 'fundamentally undermines' the Supreme Court's earlier decisions establishing the pleading standard[.]" [Harris v. Amgen, No. 10-56014 (9th Cir. May 26, 2015)]

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022, Inc.