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Court Dismisses Fiduciary Breach Claims Against Directors and Plan Committee Members
Thomson Reuters / EBIALink to more items from this source
June 10, 2021

"On the threshold issue of fiduciary status, the court noted that all parties appeared to agree that the plan committee was a fiduciary with respect to the challenged actions, and that the plan sponsor had a duty to monitor the committee's actions. However, claims against the other alleged fiduciaries (including the members of the Board of Directors and plan committee) were dismissed because the participants failed to sufficiently allege that those parties were fiduciaries with respect to the contested conduct." [Luense v. Konica Minolta Business Solutions U.S.A., Inc., No. 20-6827 (D. N.J. May 24, 2021)]

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