U.S. High Court Requests Response To Gannett Fiduciary Duty Petition

Mealey's (January 8, 2021, 11:19 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 4 requested a response to a petition for a writ of certiorari filed by Gannett Co. Inc. and The Gannett Benefit Plans Committee arguing that a Fourth Circuit U.S. Court of Appeals’ decision that it breached the fiduciary duties of prudence and diversification through its administration of a 401(k) retirement plan created a circuit split regarding the diversification requirement under the Employee Retirement Income Security Act....