Supreme Court Grants Review Of Fifth Third ERISA Appeal

Law360, New York (December 13, 2013, 7:18 PM EST) -- The U.S. Supreme Court decided Friday to review a Fifth Third Bancorp appeal in an effort to clarify what employees must allege in a complaint accusing its pension fund managers of abusing their discretion by continuing to invest in the company's own stock despite dismal performance.

Fifth Third's petition for writ of certiorari, filed in December 2012, came after a three-judge Sixth Circuit panel in September reversed an Ohio federal court's decision dismissing the case, finding that the employees had made a plausible claim that the...
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