11th Circ. Reverses Split Decision In SunTrust ERISA Case

Law360, Los Angeles (March 5, 2013, 11:05 PM EST) -- The Eleventh Circuit on Tuesday reversed a Georgia federal court’s 2010 split decision in a class action accusing SunTrust Banks Inc. retirement plan fiduciaries of breaching their duties, saying a recent ruling over disclosure and prudence claims in another case warrants remanding the SunTrust one.

Per its May ruling in Lanfear v. Home Depot Inc., the Eleventh Circuit said it disagreed with U.S. District Judge Richard W. Story's split decision in the suit brought by SunTrust retirement plan participants.

Judge Story had dismissed the employees' allegations...
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