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Supreme Court Declines to Shut Door on Public Company ESOP Stock-Drop Claims -- More Litigation to Follow
Tucker Ellis LLP 
Feb. 7, 2020 "Although the original Jander decision has been 'vacated,' the practical effect of the Supreme Court's failure to address the core issues leaves the door open to copycat ERISA stock-drop claims and renders the merit of the defenses asserted by IBM before the Supreme Court unresolved. The key takeaway for public companies that offer their own stock in their 401(k) plans is that the door has yet to be definitively shut on ERISA-based stock-drop claims, and that the future of Dudenhoeffer's effect on such claims remains to be determined." [Retirement Plans Committee of IBM v. Jander, No. 18-1165 (S. Ct. Jan. 14, 2020)] MORE >> |
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