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Sixth Circuit distinguishes itself and rules that presumption of prudence should not be applied on a motion to dismiss

• Proskauer Rose LLP
• -
• USA
• -
• February 23 2012

The Sixth Circuit issued a ruling on February 22, 2012 in Pfeil v. State Street Bank and Trust Co., No. 10-2302, 2012 WL 555481 (6th Cir. Feb. 22, 2012) that distinguishes itself from other Circuit Courts concerning the application of the presumption of prudence that applies to an ERISA plan fiduciary's decision to invest in an employer stock fund