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Employee Retirement Income Security Act (ERISA) › Amgen v Harris

Proskauer Rose LLP

ERISA Newsletter - Fourth Quarter 2018

Proskauer Rose LLP on

As we closed the door on 2018, we were met by two surprising decisions—one from a panel of the Second Circuit addressing employer stock drop litigation, and one from a federal district court in Texas declaring the entire...more

Proskauer - Employee Benefits & Executive...

Second Circuit Revives Dismissed ERISA Stock-Drop Suit

Proskauer - Employee Benefits & Executive... on

The Second Circuit reinstated a claim for breach of fiduciary duty under ERISA brought by participants in IBM’s 401(k) plan who suffered losses from their investment in IBM stock. Jander v. Retirement Plans Committee of IBM,...more

Seyfarth Shaw LLP

The U.S. Supreme Court And Workplace Class Actions

Seyfarth Shaw LLP on

Seyfarth Synopsis: As profiled in our recent publication of the 13th Annual Workplace Class Action Litigation Report, the U.S. Supreme Court’s rulings have a profound impact on employers and the tools they may utilize to...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2016: Does the Supreme Court’s Dudenhoeffer Decision under ERISA do “More...

Dechert LLP on

Earlier this year, the U.S. Supreme Court decided the case of Amgen v. Harris, in which the Court revisited and clarified its 2014 holding in Dudenhoeffer v. Fifth Third Bancorp.2 Both cases concern the application of a...more

Franczek P.C.

A Review of the Supreme Court’s 2015 - 2016 Term

Franczek P.C. on

Last week, the Supreme Court ended its 2015-2016 session under a cloud of uncertainty. On February 22, 2016, Justice Antonin Scalia, the stalwart of the Court’s conservative wing for 30 years, passed away. Justice Scalia’s...more

Wilson Sonsini Goodrich & Rosati

U.S. Supreme Court Clarifies Pleading Standard for Cases Involving Retirement Plan Investments in Employer Stock

Wilson Sonsini Goodrich & Rosati on

The U.S. Supreme Court's recent decision in Amgen, Inc. v. Harris makes clear that the Court's heightened pleading standard applies to claims that a fiduciary of a retirement plan that has investments in employer stock should...more

Snell & Wilmer

Supreme Court Provides Additional Clarity on Pleading Requirements for ERISA Stock Drop Cases

Snell & Wilmer on

The Supreme Court has provided additional clarity on the Fifth Third Bancorp v. Dudenhoeffer decision. In Dudenhoeffer, the Supreme Court held that a fiduciary decision to invest in employer stock is not deemed to be...more

McDermott Will & Emery

Supreme Court Emphasizes Heightened Pleading Standard for Stock Drop Cases

McDermott Will & Emery on

On January 25, 2016, the Supreme Court of the United States issued a per curiam opinion in Amgen Inc. v. Harris, holding that the Amgen, Inc. employees who filed suit after the value of the employer stock in which they had...more

Dorsey & Whitney LLP

The Supreme Court Once Again Visits The Employer Stock Dispute — Amgen, Inc. v. Harris

Dorsey & Whitney LLP on

Background — fiduciary obligations vs. ERISA’s specific nod to employer stock. Courts have long struggled to determine how to reconcile ERISA’s rules explicitly allowing participants in defined contribution plans to invest in...more

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