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Text of Seventh Circuit Opinion: Delegation of Investment Decisions to Outside Fiduciary Shields Boeing from Fiduciary Liability in Stock-Drop Case (PDF)
U.S. Court of Appeals for the Seventh Circuit 
Aug. 2, 2022 30 pages. "The central question here is whether the delegation of those investment responsibilities protects the company and company insiders from liability for the plan's continued offering of Boeing stock as an investment option for employees before and during a time when the value of Boeing stock dropped significantly.... We agree with the district court that the delegation ... means that neither Boeing nor the other defendants acted in an ERISA fiduciary capacity in connection with the continued investments in Boeing stock." [Burke v. The Boeing Company, No. 20-3389 (7th Cir. Aug. 1, 2022)] MORE >> |
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