7th Circuit Panel: ERISA’s Authority Allows Indemnification

Mealey's (July 27, 2016, 9:39 AM EDT) -- CHICAGO — A Seventh Circuit U.S. Court of Appeals panel on July 21 affirmed that a defendant in a class action alleging breach of fiduciary duty under the Employee Retirement Income Security Act can be required to indemnify his co-fiduciaries because a court’s remedial authority under ERISA includes the power to fashion “traditional equitable remedies” (Carol Chesemore, et al. v. David B. Fenkell, et al., Nos. 14-3181, 14-3215 and 15-3740, 7th Cir.; 2016 U.S. App. LEXIS 13316).

(Opinion available. Document #54-160810-027Z.)

The panel said the Seventh...
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