Justices Urged To Nix Fifth Third's ERISA Stock-Drop Appeal

Law360, New York (March 4, 2014, 5:02 PM EST) -- Employees of Fifth Third Bancorp urged the U.S. Supreme Court last week to deny the company's bid to construct a loftier legal hurdle for workers looking to bring a class action when their retirement plans continue to invest in their employer's poorly performing stock.

The respondents filed their merits brief on Feb. 26 in a case the high court agreed to hear late last year over a Sixth Circuit decision that revived the employees' class action against Fifth Third pension fund managers. The suit alleges that...
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