Mississippi Federal Judge: Ruling In Fifth Third Applicable; Standard Not Met

Mealey's (March 31, 2016, 2:54 PM EDT) -- OXFORD, Miss. — Allegations by a purported employee class that various defendants breached their fiduciary duties by failing to manage an employee stock ownership plan (ESOP) prudently and loyally were dismissed March 28 by a Mississippi federal judge, who deemed the standard for duty-of-prudence claims established in Fifth Third Bancorp v. Dudenhoeffer (573 U.S. __ 134 S. Ct. 2459, 189 L. Ed. 2d 457 [2014]) applicable to the case (Robert K. Hill, et al. v. Hill Brothers Construction Company Inc., et al., No. 14-213, N.D. Miss.;...
To view the full article, register now.