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SEC and DOL See Eye to Eye in Stock-Drop Case (PDF)
Buck Link to more items from this source
Apr. 6, 2016

"Taken together, DOL and SEC advise plan fiduciaries in similar situations to: Urge others to disclose.... Suspend all purchases and sales.... Disclose the fraud ... The SEC and DOL comments in this case may encourage participants to file more 'stock-drop' lawsuits, could influence sponsors to consider the elimination of their company stock funds due to expanded litigation risk, and could increase the reluctance of company officials to serve as fiduciaries for defined contribution plans." [Whitley v. BP P.L.C., No. 10-cv-4214 (S.D. Tex. Oct. 30, 2015; on appeal to 5th Cir.)]

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