In Merrimon v. Unum Life Insurance Co. of America, 2014 WL 2960024 (1st Cir. July 2, 2014), the U.S. Court of Appeals for the First Circuit became the third circuit court to approve an insurance company’s use of a retained...more
7/22/2014
/ Class Action ,
Corporate Counsel ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Insurance Industry ,
Life Insurance ,
Money Judgment ,
Popular ,
Retained Asset Accounts ,
Reversal ,
Self-Dealing
In an opinion that reversed nearly two decades of lower-court ERISA class action jurisprudence, the Supreme Court axed the well-established “presumption of prudence” in ERISA “stock-drop” cases. On June 25, the Court issued...more