Mealey's (June 8, 2020, 9:17 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on May 22 affirmed a lower court’s ruling that a group of participants in an ERISA-governed plan failed to plausibly claim that the plan investment committee, which presented participants with a variety of investment options, had breached its fiduciary duties of prudence and diversification (Jeffery Schweitzer, et al. v. The Investment Committee of the Phillips 66 Savings Plan, et al., No. 18-20379, 5th Cir., 2020 U.S. App. LEXIS 16462)....