2nd Circuit Denies Request For En Banc Rehearing On Duty-Of-Prudence Claim

Mealey's (January 23, 2019, 8:38 AM EST) -- NEW YORK — The Second Circuit U.S. Court of Appeals on Jan. 18 denied a petition for an en banc rehearing filed by fiduciaries of an IBM employee stock option plan (ESOP) who sought reversal of an earlier ruling finding that employees plausibly asserted a duty-of-prudence claim against them under the Employee Retirement Income Security Act (Larry W. Jander, et al. v. Retirement Plans Committee of IBM, et al., No. 17-3518, 2nd Cir.)....

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