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Supreme Court Holds No Presumption of Prudence for ESOP Fiduciaries
Jay B. Kasner,Matthew J. Matule,Edward B. Micheletti,Amy S. Park,Noelle M. Reed, June 27, 2014
Today, in a unanimous decision, the Supreme Court of the United States held in Fifth Third Bancorp v. Dudenhoeffer that fiduciaries of employee stock ownership plans (ESOPs) that invest in the employer’s securities are not protected by a presumption that they have acted prudently in making...
Inside the Courts: Supreme Court Agrees to Review American Pipe Tolling Issue
Jay B. Kasner,Matthew J. Matule,Edward B. Micheletti,Amy S. Park,Noelle M. Reed, March 12, 2014
This morning, the Supreme Court granted the writ of certiorari in Public Employees Retirement System of Mississippi v. IndyMacMBS, Inc. The petition raises an issue regarding the application of American Pipe tolling to claims brought under the Securities Act of 1933. In American Pipe &...