Review Of Ruling On ERISA Fiduciary’s Prudence Not Warranted, State Street Argues
(June 6, 2016, 1:29 PM EDT) -- WASHINGTON, D.C. — State Street Bank and Trust Co. on May 24 urged the U.S. Supreme Court to deny review of a Sixth Circuit U.S. Court of Appeals divided opinion that rejected the breach of prudence claims asserted by participants in an employee stock ownership plan (ESOP) (Raymond M. Pfeil, et al. v. State Street Bank and Trust Company, No. 15-1199, U.S. Sup.).
(Brief in opposition available. Document #54-160608-054B.)
On March 22, participants in the General Motors (GM) Personal Savings Plan for Hourly Rate Employees and...