Fifth Third Plan Seeks To Settle Breach Of Fiduciary Duty Class Suit For $6M

(March 30, 2016, 2:26 PM EDT) -- CINCINNATI — The employee stock ownership plan (ESOP) fiduciaries in a class suit that went all the way to the U.S. Supreme Court have agreed to settle claims that they breached their fiduciary duties by paying $6 million to the plan to be allocated to participants and to provide several forms of nonmonetary relief, according to a motion for preliminary approval of settlement filed by the plaintiffs on March 15 in the U.S. District Court for the Southern District of Ohio (John Dudenhoeffer, et al. v....
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