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Goldman Sachs Wins Big on Summary Judgment in Case Challenging 401(k)'s Investments in Goldman Proprietary Funds
Kantor & Kantor 
Sept. 21, 2022 "The court saw the fiduciary breach claim as turning primarily on Goldman's lack of an investment policy statement for the plan. Although the plaintiff's experts testified that having an IPS was a common and indeed 'best practice' ... because it was not strictly required under ERISA the court concluded that the lack of such a policy did not establish imprudence.... Nor did the court agree that the plan fiduciaries lacked a deliberative process, despite the sparse minute reports from the investment committee's quarterly and ad hoc meetings." [Falberg v. The Goldman Sachs Group, Inc., No. 19-9910 (S.D.N.Y. Sep. 14, 2022)] MORE >> |
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