Grace Fund Mgr. Passed 'Prudent Man' Test: 1st Circ.
By Melissa Lipman ( January 30, 2009, 12:00 AM EST) -- A federal appeals court has rejected a bid by investors in W.R. Grace & Co.'s pension plan to reinstate their unorthodox Employee Retirement Income Security Act case claiming that Grace and its investment manager breached their fiduciary duty by selling a stock just before the price increased....
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