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Article

Morgan Lewis | USA | 28 Oct 2011

Second Circuit’s Citigroup decision endorses presumption of prudence, upholds dismissal of disclosure claims

In a much-anticipated decision, the U.S. Court of Appeals for the Second Circuit joined five other circuits in ruling that employer stock in a 401(k) plan is subject to a “presumption of prudence” that a plaintiff alleging fiduciary breach can overcome only upon a showing that the employer was facing a “dire situation” that was objectively unforeseeable by the plan sponsor.

Article

Osler Hoskin & Harcourt LLP | USA | 2 Jun 2011

U.S. Supreme Court rules on remedies for deficient plan communications

The U.S. Supreme Court does not often issue decisions interpreting the Employee Retirement Income Security Act (ERISA), so when the Justices speak, the issues are significant.

Article

White & Case LLP | USA | 9 Dec 2009

Second and Third Circuits rule on breach-of-fiduciary-duty claims based on employer’s oral misrepresentations regarding ERISA benefit plans

On September 30, 2009, the Second Circuit held in Ladouceur v. Credit Lyonnais that the plaintiffs could not prevail on a breach-of-fiduciary-duty claim under ERISA based on oral representations made by their employer purporting to alter an ERISA benefit plan.

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