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Text of Ninth Circuit Dismissal of Hewlett-Packard Stock Drop Fiduciary Breach Claim (PDF)
U.S. Court of Appeals for the Ninth Circuit 
Jan. 15, 2018
"[Plaintiff Mike Laffen] also contends that pursuant to Defendants-Appellees' duty of prudence, Defendants-Appellees should have at least prevented the Plan from making new investments in HP Common Stock Fund and/or made public disclosures about HP stock's risks following the whistleblower's allegations.... Because Laffen has not plausibly alleged an alternative action Defendants-Appellees could have taken that was consistent with securities laws and that a similarly situated prudent fiduciary would not have viewed as more likely to harm than help the Plan, Laffen fails to plead a claim for breach of the duty of prudence." [Laffen V. Hewlett-Packard Co., No. 15-16380 (9th Cir. Jan. 9, 2018; unpub.)]
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