Judge Finds Transactions Could Have Caused Breaches Of Fiduciary Duty Under ERISA

Mealey's (October 18, 2017, 1:30 PM EDT) -- CEDAR RAPIDS, Iowa — An Iowa federal judge on Oct. 13 found that a participant in an Employee Stock Ownership Plan (ESOP) had standing to assert claims against the plan’s trustee for violation of the Employee Retirement Income Security Act, partially dismissing certain causes of action but allowing a claim that the trustee allegedly violated a fiduciary duty when it completed a transaction to proceed (Deborah Innis v. Bankers Trust Company of South Dakota, No. 4:16-cv-00650, S.D. Iowa)....

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