Supreme Court Issues Decision In ERISA Case
The last week of the Supreme Court’s term included an important decision affecting ERISA litigation, Fifth Third Bancorp et al v. Dudenhoeffer. In this decision, the Court unanimously held that employee stock ownership plan fiduciaries are not entitled to any special presumption of prudence, but rather are subject to the same duty of prudence that applies to ERISA fiduciaries in general. It is too early to determine whether the ruling will bring unanimity to this area of the law, or actually trigger an increase in litigation, but CCK will be monitoring how lower courts apply this decision.
Category: ERISA Law