Following Meiners, 10th Circuit Upholds Dismissal Of ERISA Imprudence Case

Mealey's (September 7, 2023, 12:30 PM EDT) -- DENVER — Adopting “the approach to an [Employee Retirement Income Security Act] plaintiff’s pleading burden articulated” in Meiners v. Wells Fargo & Co., under which raising “an inference of imprudence through price disparity” requires alleging “‘a meaningful benchmark,’” a 10th Circuit U.S. Court of Appeals panel on Sept. 6 affirmed dismissal of a putative class action challenging a retirement plan’s record-keeping fees and allegedly comparatively expensive investment options....