A bondholder brought suit in state court alleging that defendants breached fiduciary duties and acted with gross negligence in administering certain
In Quan v.Computer Sciences Corporation, Nos. 09-56190, 09-56248, 2010 WL 3784702 (9th Cir. Sept. 30, 2010), the United States Court of Appeals for the Ninth Circuit joined three other circuit courts in expressly adopting a rebuttable presumption that ERISA fiduciaries act prudently by continuing to follow plan terms and allowing plan participants to invest in employer stock.
The U.S. Department of Labor (“DOL”) issued an interim final rule on July 15, 2010, that is intended to improve disclosure of fees and conflicts of interest to fiduciaries of 401(k) and certain other retirement plans.
On June 10, 2009, the Securities and Exchange Commission ("SEC") published stockholder proxy access rules following a history of unsuccessful prior proposals.