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Curtain Falls on IBM Stock-Drop Case
MercerLink to more items from this source
May 3, 2021

"After more than five years of litigation and a trip to the Supreme Court, the ERISA stock-drop litigation against fiduciaries for IBM's [ESOP] has ended with a modest $4.75 million settlement ... The opinion of the 2nd US Circuit Court of Appeals in the case -- which found plaintiffs' pleadings sufficient to survive a motion to dismiss -- still stands, possibly leaving a narrow path for future stock-drop litigation." [Jander v. Ret. Plans Comm. of IBM, No. 15-3781 (S.D.N.Y. memorandum in support of motion for approval of settlement proposal, April 2, 2021; order approving settlement Apr. 28, 2021)]

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