U.S. Bancorp

News & Analysis as of

Employee Benefits Update: Unanimous Supreme Court Issues ERISA Fiduciary Duty Opinion

On June 25, the Supreme Court issued a unanimous decision in Fifth Third Bancorp v. Dudenhoeffer, which is likely to change the future of the Employee Retirement Income Security Act (ERISA) stock drop litigation. ...more

Supreme Court Decides ESOP Fiduciary Duty Case: Fifth Third Bancorp et al. v. Dudenhoeffer et al.

On June 25, 2014, the U.S. Supreme Court decided Fifth Third Bancorp et al. v. Dudenhoeffer et al., No. 12-751, holding that a fiduciary of an employee stock ownership plan (ESOP) is subject to the same duty of prudence that...more

U.S. Supreme Court Decision Will Lead to Intense Scrutiny of ESOP Fiduciaries

The United States Supreme Court issued a decision yesterday that will result in significant changes to employee stock ownership plan ("ESOP") administration and design, which could jeopardize the viability of stand-alone...more

News Flash: ESOP Fiduciaries May Obey the Law

The U.S. Supreme Court ruled in Fifth Third Bancorp et al. v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014), that no special presumption of prudence applies to the decision by ESOP fiduciaries to buy and hold stock of the...more

Fifth Third Bancorp v. Dudenhoeffer – An Analysis of the U.S. Supreme Court’s Decision

For over two decades, federal courts have embraced the so-called Moench presumption of prudence in ERISA stock-drop cases. Pursuant to that presumption, courts have routinely dismissed such claims absent allegations in a...more

SCOTUS Says No Presumption of Prudence In ERISA Stock Drop Cases

Earlier today, in Fifth Third Bancorp v. Dudenhoeffer, the U.S. Supreme Court declined to adopt the so-called Moench presumption of prudence pursuant to which many circuit courts had dismissed ERISA stock drop claims unless...more

Supreme Court Clarifies ESOP Fiduciaries’ Obligations

On June 25, 2014, the Supreme Court of the United States ruled that a fiduciary of an “employee stock ownership plan” (ESOP) is subject to the same duty of prudence that the Employee Retirement Income Security Act (ERISA)...more

UPDATE: Money, Money, Money: Top 10 Trade Secret Verdicts (With Our Runner-Up Overturned)

Big IP verdicts aren’t limited to patent cases. Trade secrets can mean big money, too. Really big. As in multi-, multi-million dollar verdicts. And the trend is up with more than half of the top ten verdicts coming out in...more

U.S. Bancorp Announces $53 Million Settlement with Freddie Mac

On December 10, U.S. Bancorp announced a $53 million settlement with Freddie Mac. The Settlement resolves nearly all of U.S. Bancorp’s repurchase obligations pertaining to loans sold to Freddie Mac during the period between...more

Pension Fund Class Action to Proceed Against Bank of America and U.S. Bancorp

On December 6, Judge Katherine B. Forrest of the United States District Court for the Southern District of New York denied Bank of America and U.S. Bancorp’s motions to dismiss a suit by the Policemen’s Annuity and Benefit...more

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