IBM Seeks High Court Review Of Ruling For Plan Participants

(September 10, 2020, 9:42 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court should review the Second U.S. Circuit Court of Appeals panel's decision to reinstate an earlier ruling that participants in a stock option plan for IBM employees had plausibly alleged that plan fiduciaries breached their duties under the Employee Retirement Income Security Act by failing to disclose alleged corporate fraud because the Second Circuit's decision reestablishes the same circuit split that the high court previously agreed to review, the IBM plan committee contends in a Sept. 1 petition for writ of certiorari (Retirement Plans Committee of IBM, et al. v. Larry W. Jander, et al, No. 20-289, U.S. Sup.)....