U.S. High Court Review Denied In IBM ESOP Fiduciary Duty Appeal

Mealey's (November 9, 2020, 1:24 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 9 denied a petition for writ of certiorari filed by fiduciaries of an International Business Machine Corp. (IBM) employee stock option plan (ESOP) seeking a ruling for a second time on their duty under the Employee Retirement Income Security Act to act on inside information (Retirement Plans Committee of IBM, et al. v. Larry W. Jander, et al., No. 20-289, U.S. Sup.)....