DOL Backs Rehearing Bid In McGraw-Hill ERISA Appeal

Law360, New York (December 09, 2011, 8:13 PM ET) -- The U.S. Department of Labor on Thursday asked the Second Circuit for permission to file a brief in support of The McGraw-Hill Cos. Inc. workers seeking a rehearing of their appeal of the dismissal of their suit claiming their retirement plans were imprudently invested in company stock.

The Second Circuit initially affirmed a New York court's decision to nix a putative class action under the Employee Retirement Income Security Act claiming plan fiduciaries should have known company stock was not a good investment for the plans....
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers