CSC ERISA Plaintiffs Seek En Banc Review In 9th Circ.

Law360, New York (October 22, 2010, 7:10 PM EDT) -- A class of current and former employees of Computer Science Corp. is asking an appeals court to rehear en banc a claim that the company mismanaged its 401(k) plans by investing heavily in its own stock, which took a nosedive after reports of options backdating by executives.

The appeal for rehearing of the Employee Retirement Income Security Act case, filed Thursday in the U.S. Court of Appeals for the Ninth Circuit, turns on the so-called Moench Presumption, which holds that a 401(K) plan’s investment in its...
To view the full article, register now.