Justices Hear Pleading Standard Arguments In ERISA Fees Duty Of Prudence Suit

Mealey's (December 7, 2021, 8:47 AM EST) -- WASHINGTON, D.C. — In a case centered on the pleading standard for claims of breach of the duty of prudence under the Employee Retirement Income Security Act due to allegedly excessive fees, participants in Northwestern University’s defined-contribution retirement plans and the U.S. government as amicus curiae on Dec. 6 told U.S. Supreme Court justices that the challenged decision impermissibly sets a new rule and Northwestern contended that dismissal was proper....