11th Circuit Reaffirms Dismissal Of Stock-Drop Claims Against Delta

Mealey's (August 10, 2015, 11:30 AM EDT) -- ATLANTA — The 11th Circuit U.S. Court of Appeals on July 29 reaffirmed the dismissal of Employee Retirement Income Security Act breach of fiduciary duty claims by participants in an employee stock ownership plan (ESOP) sponsored by Delta Air Lines Inc. (Dennis Smith, et al. v. Delta Air Lines Inc., et al., No. 13-15155, 11th Cir.; 2015 U.S. App. LEXIS 13165).

(Unpublished opinion on remand available. Document #54-150812-036Z.)

The 11th Circuit ruled April 17, 2014, in an unpublished opinion, that the participants failed to overcome the...
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