Court Allows Suits After PBGC Takes Over Plan

Law360, New York (August 6, 2007, 12:00 AM EDT) -- An appellate court ruled Friday that a pension plan participant does have standing to bring an ERISA claim of breach of fiduciary duty against a plan manager, even after the plan has been terminated and the Pension Benefit Guaranty Corp. has taken over as trustee.

The decision from the U.S. Court of Appeals for the Fourth Circuit came as the court overturned a district court’s decision to dismiss claims brought by plan participant Peter Brown Ruffin, Jr. against plan manager New England Life Insurance Co. However,...
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