3rd Circ. Backs Lilly In ERISA Reversal

Law360, New York (April 14, 2009, 12:00 AM EDT) -- In light of a recent U.S. Supreme Court decision, a federal appeals court has reversed the lower court’s ruling that Eli Lilly & Co. owed a terminated worker severance benefits, granting greater leeway to Employee Retirement Income Security Act plan administrators facing conflict of interest claims.

On Tuesday, Judges Maryann T. Barry, Morton I. Greenberg and Harold A. Ackerman of the U.S. Court of Appeals for the Third Circuit diminished allegations that a conflict of interest disqualified Lilly's plan administrator's decision to deny benefits to Kevin...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.