Don't miss ERIC's Upcoming Call on the Supreme Court's Decision in Fifth Third Bancorp v. Dudenhoeffer

The ERISA Industry Committee (ERIC) will have a call on the U.S. Supreme Court Decision in Fifth Third Bancorp v. Dudenhoeffer on Wednesday, July 9th for its members and trial members. ERIC's website explains:

"ERIC will host a FocusOn Conference Call to discuss the impact of the U.S. Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer, which involved whether the “presumption of prudence” applies at the pleading stage in stock drop cases. ERIC had jointly filed an amicus brief in this case, urging the Court to apply the presumption of prudence at the pleading stage. 

The Court considered whether the Sixth Circuit erred by rejecting the presumption of prudence (at the motion to dismiss stage) adopted by most other appellate courts that have ruled on the issue when addressing breach of fiduciary duty claims in stock drop litigation involving 401(k) and ESOP plans. Unfortunately, the Court held that fiduciaries of plans that include company stock as an investment option are not entitled to any “presumption of prudence.” However, the Supreme Court also recognized that meritless claims may be able to be dismissed for failing to state a claim, and effectively imposed several hurdles before plaintiffs can overcome an early dismissal of litigation."

ERIC members and trial members can register here.