Angelo Savino

Angelo Savino

Cozen O'Connor

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Latest Posts › Duty of Prudence


Supreme Court Expands Scope of Fiduciary Liability

In Tibble v. Edison International, the U.S. Supreme Court expanded the scope of the duty of prudence owed by ERISA fiduciaries. Although ostensibly a case about the statute of limitations, the Court ruled that trustees of...more

5/29/2015 - 401k Breach of Duty Duty of Prudence Duty to Monitor ERISA Fiduciary Duty Mutual Funds Retirement Plan SCOTUS Statute of Limitations Tibble v Edison Int

Supreme Court Rejects Presumption of Prudence for ESOP Fiduciaries

On June 25, 2014, the Supreme Court of the United States, in Fifth Third Bancorp v. Dudenhoffer, declared that no “presumption of prudence” applied to fiduciaries of “employee stock ownership plans” (ESOPs). ...more

7/10/2014 - Corporate Counsel Duty of Prudence ERISA ESOP Fiduciary Duty FIfth Third Bancorp v Dudenhoeffer Popular SCOTUS US Bancorp

Second Circuit Further Curtails Duty of Prudence Claims in Saint Vincent Catholic Medical Centers v. Morgan Stanley

In a line of recent cases, the 2nd Circuit has limited ERISA plaintiffs’ claims for breach of the duty of prudence by holding that investments of benefit plan funds in employer securities pursuant to plans calling for such...more

5/8/2013 - Asset Diversification Defined Benefit Plans Duty of Prudence ERISA Fiduciary Duty Morgan Stanley Risk Management

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