Judge Rules Against ERISA Plan Trustees In Suit Over Mortgage-Backed Securities

Mealey's (June 6, 2023, 1:18 PM EDT) -- NEW YORK — Finding “that no reasonable trier of fact could conclude that any of the mortgage-backed securities at issue here are plan assets within the meaning of” the Employee Retirement Income Security Act, a New York federal judge ordered judgment in favor of all defendants in a putative class case brought by a pension fund’s trustees....