Full 9th Circuit Remands Tibble For Trial Of Breach Of Fiduciary Duty Claims

(January 4, 2017, 12:41 PM EST) -- SAN FRANCISCO — On remand from the U.S. Supreme Court, the en banc Ninth Circuit U.S. Court of Appeals on Dec. 16 unanimously voted to vacate a California federal judge’s ruling in favor of an employer and its benefits plan administrator on breach of fiduciary duty claims in the selection and retention of certain mutual funds for a defined contribution 401(k) savings plan governed by the Employee Retirement Income Security Act, saying a trial is needed to determine if the defendants should have switched from retail-class fund shares to institutional-class fund shares to fulfill their continuing duty to monitor the appropriateness of investments (Glenn Tibble, et al. v. Edison International, et al., No. 10-56406, 9th Cir.; 2016 U.S. App. LEXIS 22366)....

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