7th Circ. Hears Challenge To Marshall & Ilsley's ERISA Win

Law360, Chicago (September 13, 2012, 8:32 PM EDT) -- Marshall & Ilsley Corp.'s employee retirement plan fiduciaries had a duty to divest the plan's investments in company stock when share prices became too unstable, an attorney for former M&I employees told the Seventh Circuit on Thursday, fighting a Wisconsin federal court's ruling that the fiduciaries' prudence should be presumed.

Michael J. Klein of Stull Stull & Brody asked a three-judge appeals court panel to revive former Marshall & Ilsley employees Linda White and Charlene Roundtree's putative class action alleging that the company and its executives...
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