High Court To Set Key Standard For ERISA Stock-Drop Cases

Law360, New York (December 17, 2013, 6:49 PM EST) -- The U.S. Supreme Court's decision to hear Fifth Third Bancorp's appeal over the pleading standards for Employee Retirement Income Security Act stock-drop cases will lead to a ruling that will determine whether there will be a flood of ERISA class actions when the next economic downturn hits, attorneys said Tuesday.

The high court on Friday granted Fifth Third's petition for review of a Sixth Circuit decision to reopen a case accusing its pension fund managers of abusing their discretion by continuing to invest in the company's own...
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