2nd Circuit Panel Affirms That Plan Participant’s Suit Is Time-Barred

Mealey's (August 27, 2015, 10:31 AM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals on Aug. 25 affirmed that a retirement plan participant’s breach of fiduciary duty suit is time-barred under the applicable three-year statute of limitations and said that the evidence shows the participant had actual knowledge of the alleged breach more than three years before filing suit (Ramnand Ramnaraine v. Merrill Lynch & Co. Inc. et al., No. 14-3562, 2nd Cir.; 2015 U.S. App. LEXIS 14929).

(Summary order available. Document #54-150909-027Z.)

Ramnand Ramnaraine filed suit in the U.S....
To view the full article, register now.