Legal Alert: Supreme Court Permits Plan Participants to Sue for Fiduciary Breach


The U.S. Supreme Court issued a decision today (February 20, 2008) that will allow individual participants to sue for fiduciary breaches related to their 401(k) plans. In a unanimous ruling in LaRue v. DeWolff, Boberg & Associates, Inc., No. 06-856, the Supreme Court held that while ERISA §502(a)(2) does not allow a remedy for individual injuries apart from plan injuries, it does permit individuals to recover for harm to their plan assets due to a breach of fiduciary duty.

See full alert for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Civil Remedies Updates, Labor & Employment Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© FordHarrison | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »