After Prohibited Transaction Ruling, Class Asks 2nd Circuit To Rehear ERISA Case

Mealey's (December 1, 2023, 8:12 AM EST) -- NEW YORK — Arguing in part that the challenged decision focusing on a prohibited transaction claim “severely weakens [the Employee Retirement Income Security Act’s] high fiduciary standard,” retirement plan participants whose unsuccessful appeal essentially sought revival of the bulk of their class action petitioned the Second Circuit U.S. Court of Appeals for panel or en banc rehearing....