Another ERISA Action Dismissal

Law360, New York (March 1, 2010, 2:00 PM EST) -- The past two years have seen a large increase in shareholder suits against companies, especially financial institutions, whose share prices fell significantly in the context of the global financial crisis.

In 2008 and 2009 alone, over 150 federal securities class actions were filed relating to the credit and subprime mortgage crisis. Many of these securities class actions were accompanied by proposed Employee Retirement Income Security Act class action claims brought by company employees whose retirement plan investments in company stock lost value.

Typically, the plaintiff employees...
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