2nd Circuit Refuses To Stay Duty-Of-Prudence Dispute For Supreme Court Review

Mealey's (February 6, 2019, 11:40 AM EST) -- NEW YORK — The Second Circuit U.S. Court of Appeals on Feb. 4 denied a motion by fiduciaries of an IBM employee stock option plan (ESOP) to stay its mandate that employees plausibly asserted a duty-of-prudence claim against them under the Employee Retirement Income Security Act pending their filing of a petition for a writ of certiorari in the U.S. Supreme Court (Larry W. Jander, et al. v. Retirement Plans Committee of IBM, et al., No. 17-3518, 2nd Cir.)....