Case Study: Diebold V. Northern Trust Investments

Law360, New York (October 27, 2010, 1:54 PM EDT) -- In Diebold et al. v. Northern Trust Investments NA et al., case number 09-c-1934 (N.D. Ill. Sept. 7, 2010), the U.S. District Court for the Northern District of Illinois granted in part and denied in part a motion to dismiss Employee Retirement Income Security Act breach of fiduciary duty and prohibited transaction claims involving an investment manager's securities lending program. This is one of a number of recent cases challenging such programs in light of the recent credit crisis.

The case was filed in 2009 by...
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