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Analysis

Justices Set Sights On ESOP Stock-Drop Suits

Law360 (June 4, 2019, 8:10 PM EDT) -- IBM workers who alleged the overseers of their employee stock ownership plan let them invest in overvalued company stock may need to brace for a reversal of the Second Circuit’s revival of their suit now that the nation’s highest court has agreed to review the case.

If the U.S. Supreme Court sides with an IBM retirement committee and shuts down the Second Circuit’s revival of the proposed Employee Retirement Income Security Act class action — as some attorneys predict the court will — the decision could be, in the words of Bailey & Glasser LLP’s Mark G. Boyko, the “last nail in...

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