5th Circuit Won’t Rehear ERISA Claims Stemming From Phillips 66 Spinoff

Mealey's (October 13, 2020, 8:21 AM EDT) -- NEW ORLEANS — A May ruling affirming the dismissal of allegations that an ERISA-governed plan breached its fiduciary duties of prudence and diversification will stand, the Fifth Circuit U.S. Court of Appeals announced Oct. 8, denying a petition for rehearing in the case (Jeffery Schweitzer, et al. v. The Investment Committee of the Phillips 66 Savings Plan, et al., No. 18-20379, 5th Cir.)....