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401(k) Plan Sponsor Fiduciary Litigation Update: Sequoia Fund Litigation
K&L Gates 
Dec. 21, 2016 "Here, what the District Court appears to be saying is that when a plan fiduciary selects a fund that is intended have a higher risk/return profile, including through less diversification, the plan fiduciary should not have an obligation to monitor whether that fund is, in fact, diversified. In other words, as the court stated, 'in the context within which the Plan operated during the relevant time period', plan fiduciaries had no duty to monitor the concentration of any particular investment in the Sequoia Fund." [In Re Disney ERISA Litigation, No. 16-2251 (C.D. Cal. Nov. 14, 2016)] MORE >> |
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