IBM ESOP Participants Argue Against High Court Review Of Fiduciaries' Obligation

Mealey's (October 6, 2020, 1:40 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court shouldn't accept a petition by fiduciaries of an employee stock option plan (ESOP) seeking a ruling for a second time on their duty under the Employee Retirement Income Security Act to act on inside information as the Second Circuit U.S. Court of Appeals already ruled after the case was previously remanded by the high court that the matter "'was not properly raised'" before the trial court, plan participants argue in an Oct. 5 brief in opposition (Retirement Plans Committee of IBM, et al. v. Larry W. Jander, et al., No. 20-289, U.S. Sup.)....