2nd Circuit Reinstates Ruling For Plan Participants In IBM Inside Fraud Case

Mealey's (June 24, 2020, 2:15 PM EDT) -- NEW YORK — In an insider information case on remand from the U.S. Supreme Court, a Second U.S. Circuit Court of Appeals panel on June 22 issued a decision reinstating an earlier ruling that participants in a stock option plan for IBM employees had plausibly alleged that plan fiduciaries breached their duties under the Employee Retirement Income Security Act by failing to disclose alleged corporate fraud (Larry W. Jander, et al. v. Retirement Plans Committee of IBM, et al., No. 17-3518, 2nd Cir.)....