Biz Groups Back US Bank In Supreme Court Pension Fight
By Emily Brill (November 19, 2019, 8:10 PM EST) -- Big-business interests are assembling behind U.S. Bank in its Supreme Court fight to limit ERISA class actions against corporate pension plans, with a pair of free-market law firms and three lobbying groups filing amicus briefs in the case Monday and Tuesday.
The U.S. Chamber of Commerce; the American Benefits Council; the ERISA Industry Committee, or ERIC; the Washington Legal Foundation; and the New England Legal Foundation all asked the high court to uphold the Eighth Circuit's decree that workers can't file fiduciary breach class actions against fully funded pension plans under the Employee Retirement Income Security Act.
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