ING ERISA Appeal Targets Employer Stock Requirement

Law360, New York (November 18, 2010, 2:57 PM EST) -- ING Groep NV workers claiming that their retirement plans were imprudently invested in company stock have urged a federal appeals court to reinstate their putative class action, arguing that the Dutch insurance giant can't evade liability by writing a requirement to invest in company stock into its plans.

In a brief filed Wednesday with the U.S. Court of Appeals for the Eleventh Circuit, the plaintiffs claimed that the Employee Retirement Income Security Act does not include a presumption of prudence and that the trial court erred...
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