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Employer Not Vicariously Liable for Alleged Fiduciary Breach of Duty by Plan Committee
HR Daily Advisor Link to more items from this source
Dec. 9, 2015
"Fiduciary status under ERISA 'is not an all-or-nothing concept,' according to a recent federal district court ruling that found BP and its North American unit were not liable for their retirement plan employees' breaches of fiduciary duty. The lawsuit arose from a BP company stock plan available as investment to plan participants that plunged in value after the 2010 Deepwater Horizon oil spill involving the U.K.-based oil company." [In re B.P. ERISA Litigation, No. 4:10-cv-4214 (S.D. Tex. Oct. 30, 2015)]

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