ERISA-Supreme Court Holds That Participants' Complaint Against Plan Fiduciaries, For Continuing To Allow Investment In Employer Stock When The Value Has Dropped, Does Not State A Claim Under ERISA

In Amgen v. Steve Harris, 577 U. S. ____ (2016), the U.S. Supreme Court reversed the Ninth Circuit’s determination that a participants’/stockholders’ complaint states a claim under ERISA against plan fiduciaries for breaching the duty of prudence, when the fiduciaries failed to stop offering employer stock as an investment alternative under the plan. The Supreme […]