"In a significant departure from the stock drop case rulings coming out of other courts, including other U.S. Courts of Appeals, the U.S. Court of Appeals for the Second Circuit overturned a district court's dismissal of a claim for breach of ERISA fiduciary duties brought by a participant whose accounts in IBM's 401(k) plan were invested in an IBM stock fund and suffered losses as a result of a decline in the market price of IBM shares. Prior to this Second Circuit ruling, plaintiffs in other stock drop cases have struggled to defeat plan defendants' motions to dismiss." [Jander v. Ret. Plans Comm. of IBM, No. 17-3518 (2d Cir. Dec. 10, 2018)]  MORE >>