High Court To Weigh In On 401(k) Liability

Law360, New York (June 19, 2007, 12:00 AM EDT) -- Seeking to settle a split in the lower courts, the U.S. Supreme Court has decided to hear a case that will determine whether an employee can sue a pension plan fund for breach of fiduciary duty if only one account was affected by the alleged misdeeds.

On Monday, the Court granted writ of certiorari to plaintiff James LaRue, setting the stage for a battle over an individual's ability to sue defined contribution plans, also known as 401(k) plans.

Over the past few years, many U.S. corporations...
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