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Text of Eighth Circuit Opinion in Tussey v. ABB: District Court Misconstrued Earlier Ruling, Must Reconsider Participant Claims (PDF)
U.S. Court of Appeals for the Eighth Circuit
Mar. 10, 2017 "In an earlier appeal, we directed the district court to 'reevaluate' how the participants might have been injured if the ABB fiduciaries breached their fiduciary duties under [ERISA] when they changed the investment options for the plans.... Because the district court apparently mistook that direction for a definitive ruling on how to measure plan losses, and as a result entered judgment in favor of the ABB fiduciaries despite finding they did breach their duties, we vacate the judgment on that claim and remand for further consideration regarding whether the participants can prove losses to the plans. Because we thus reopen one of the participants' substantive claims, we also vacate and remand the district court's award of attorney fees." [Tussey v. ABB, No. 15-2792 (8th Cir. Mar. 9, 2017)] MORE >> |
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