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Fifth Circuit: Plan Participants Lacked Standing to Bring ERISA Fiduciary Breach Claims
Jackson Lewis P.C.Link to more items from this source
July 30, 2021

"[T]he Fifth Circuit observed that although the plan eventually began offering a stable value fund -- the plaintiffs' preferred type of capital preservation investment -- the participants never invested in this option. For that reason, the appellate court concluded that the participants failed to show that the challenged acts of the defendants caused their injury[.]" [Ortiz v. American Airlines, Inc., No. 20-10817 (5th Cir. Jul. 19, 2021)]

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