Justices Urged To Tackle SunEdison Case After IBM Ruling
Law360 (November 7, 2019, 5:32 PM EST) -- Former SunEdison workers have asked the U.S. Supreme Court to consider reviving their suit claiming they shouldn't have been allowed to invest their retirement savings in their failing employer's stock, but not until the justices provide a better road map for employee stock ownership litigation in a separate case against IBM.
In their petition Monday, the ex-workers for the bankrupt renewable energy company said the Second Circuit imposed “a categorical heightened pleading standard” that conflicted with the Supreme Court’s ruling in Fifth Third Bancorp v. Dudenhoeffer when it affirmed the toss of their proposed Employee Retirement Income Security Act class action,...
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