Stakes Are High For ERISA Fiduciaries

Law360, New York (February 12, 2014, 1:49 PM EST) -- In April, the U.S. Supreme Court will hear arguments in a case that could revitalize efforts by the plaintiffs bar to use “stock-drop” claims brought under the Employee Retirement Income Security Act to evade the heightened pleading standards applicable to claims under federal securities laws. 

A decision favorable to the plaintiffs bar could mean renewed exposure for ERISA fiduciaries — including company retirement plan committees — to vexatious, costly and burdensome litigation of precisely the sort that Congress believed it was cracking down on when it...
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