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Ninth Circuit Reaffirms Exacting Pleading Standard for Duty-of-Prudence Claims Against ESOP Fiduciaries
Paul, Weiss, Rifkind, Wharton & Garrison LLPLink to more items from this source
May 12, 2021

"The decision provides important protection to ESOP fiduciaries by reaffirming the rigorous pleading standard in ESOP duty-of-prudence cases, in which plaintiffs must plead 'context-specific' allegations describing an alternative action 'so clearly beneficial' that a prudent fiduciary 'could not conclude that it would be more likely to harm the fund than to help it.' " [Wilson v. Craver, No. 18-56139 (9th Cir. Apr. 19, 2021)]

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