Supreme Court Cheat Sheet: IBM Workers' Stock-Drop Suit

Law360 (November 5, 2019, 11:01 PM EST) -- The U.S. Supreme Court will hear arguments Wednesday on whether the Second Circuit was right to revive IBM workers' claims that they were kept in the dark about the overvaluation of IBM stock in their retirement plan, setting the stage for an opinion that could slam the door on ERISA stock-drop class actions.

That door was largely closed until the Second Circuit resuscitated Larry Jander’s claims that IBM flouted the Employee Retirement Income Security Act by failing to take action when it knew the company’s shares — which many workers kept their retirement savings in — were trading for more than...

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