We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

ERISA Suit Over Flagstar Plan's Stock Holdings Nixed

Law360 (April 1, 2011, 4:53 PM EDT) -- A Michigan federal judge on Thursday tossed a proposed Employee Retirement Income Security Act class action accusing Flagstar Bancorp Inc. of breaching its fiduciary duty of prudence by pouring money into shares of the savings and loan company even as they plunged in value.

In a ruling Thursday, Judge Paul D. Borman of the U.S. District Court for the Eastern District of Michigan granted Flagstar's motion to dismiss the case after finding that because each plaintiff had total control over the investments in his or her...
To view the full article, register now.




Case Information

Case Title

Griffin v. Flagstar Bancorp, Inc. et al

Case Number



Michigan Eastern

Nature of Suit

Labor: E.R.I.S.A.


Paul D. Borman

Date Filed

February 11, 2010

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.