Workers Way Off In Retirement Plan Case, Fifth Third Says

Law360, New York (March 25, 2014, 6:37 PM EDT) -- Former workers who said Fifth Third Bancorp's stock was too risky for their retirement plan are defending a Sixth Circuit decision that revived their putative class action with an argument that's been rejected by seven circuit courts, Fifth Third told the U.S. Supreme Court on Monday.

The Sixth Circuit created a circuit split and breathed new life into the case by refusing to apply a so-called “presumption of prudence” when ruling on a motion to dismiss, but the plaintiff-respondents and the U.S. solicitor general, who is...
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