2nd Circuit Panel Affirms ERISA Claims Dismissal, OKs Securities Claim Amendment

Mealey's (July 18, 2017, 1:24 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on July 13 affirmed the dismissal of retired Booz Allen Hamilton officers’ Employee Retirement Income Security Act claims because the plan through which Booz Allen distributed its stock to employees was not an employee pension benefit plan within the meaning of ERISA but vacated the judgment to the extent that it denied the motion by one plaintiff for leave to amend to add securities fraud claims (Bruce Pasternack, et al. v. Ralph W. Shrader, et al., No. 16-217, 2nd Cir., 2017 U.S. App. LEXIS 12513)....