Law360, New York (June 25, 2014, 7:21 PM EDT) -- The U.S. Supreme Court on Wednesday nixed ERISA's stock-drop presumption of prudence. Here, attorneys tell Law360 why the decision in Fifth Third Bancorp v. Dudenhoeffer is significant.
Jeremy Blumenfeld, Morgan Lewis & Bockius LLP
"The opinion is significant because of its impact on how ERISA stock-drop cases will be litigated and the guidance provided to fiduciaries of ERISA plans. In terms of litigation, the Supreme Court reminded litigants that the Rule 12 standards remain important tools to weed out meritless claims, and articulated considerations that must go into evaluating the sufficiency of ERISA stock drop claims. In terms of ongoing fiduciary...
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