Plan Participants Urge High Court To Affirm 2nd Circuit’s ESOP Ruling

Mealey's (September 26, 2019, 11:53 AM EDT) -- WASHINGTON, D.C. — In Sept. 24 brief filed in the U.S. Supreme Court, plan participants who allege that plan fiduciaries violated their duty of prudence by continuing to invest employee stock option plan (ESOP) funds despite insider knowledge that the stock price was artificially inflated maintain that the Second Circuit U.S. Court of Appeals correctly found that the participants stated a plausible claim for relief (Retirement Plans Committee of IBM, et al. v. Larry W. Jander, et al., No. 18-1165, U.S. Sup.)....