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Federal Courts Continue to Dismiss ERISA Stock-Drop Claims
Faegre Drinker Sept. 2, 2020 "When the Supreme Court granted certiorari in Jander, many ERISA lawyers expected the Court to clarify how a plaintiff could satisfy the Dudenhoeffer standard while still preventing meritless stock-drop claims.... Although the Supreme Court did not provide clarity, the lower federal courts have continued the trend of dismissing nearly all ERISA stock-drop cases at the pleadings stage. In four recent decisions involving ESOPs ... federal courts rejected arguments based on Jander and held that the plaintiffs failed to meet the Dudenhoeffer pleading standard. These decisions may be a harbinger of what is to come[.]" |
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