High Court Won’t Review Ruling On ERISA Fiduciary’s Liability

Mealey's (June 28, 2016, 7:55 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on June 27 let stand a Sixth Circuit U.S. Court of Appeals divided opinion that rejected the breach of prudence claims asserted by participants in an employee stock ownership plan (ESOP) (Raymond M. Pfeil, et al. v. State Street Bank and Trust Company, No. 15-1199, U.S. Sup.).

On March 22, participants in the General Motors (GM) Personal Savings Plan for Hourly Rate Employees and the GM Savings-Stock Purchase Program for Salaried Employees filed a petition for writ of certiorari,...
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