Law360, New York (June 29, 2012, 5:22 PM ET) -- Former employees of Citigroup Inc. and The McGraw-Hill Cos. Inc. have asked the U.S. Supreme Court to revive their proposed class actions accusing the two companies of imprudently investing employee retirement funds in company stock.
The two sets of workers filed petitions for writ of certiorari with the high court June 22, arguing that when the Second Circuit refused to revive the cases in October, it set a dangerously low bar for the fiduciary duties of retirement fund managers under the Employee Retirement Income Security Act....
Citi, McGraw-Hill Workers Take ERISA Suits To High Court
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