Tag: company stock in retirement plans

Government Prosecutors Weigh In on Supreme Court IBM Case

Courts should “recognize that Congress and the SEC have already made a judgment about when a public disclosure would do more harm than good, and prudent fiduciaries should generally not second-guess that judgment,” an amicus curiae brief states.

IBM Stock Drop Case Makes Its Way to Supreme Court

A district court determined the plaintiffs did not plausibly plead a violation of ERISA’s duty of prudence, because a prudent fiduciary could have concluded that earlier corrective disclosure would have done more harm than good, mirroring many stock drop decisions handed down after the Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer.

Boeing DC Plan Participants Sue Over Inflated Stock Price

The lawsuit, filed on behalf of participants invested in Boeing stock in all of Boeing’s defined contribution plans, alleges the firm breached its fiduciary duty by failing to inform participants of potential market losses due to 737 MAX airplane issues.

Gannett Faces ERISA Stock Drop Complaint

The lawsuit alleges that Gannett Co., its benefit plans committee and other fiduciaries’ decision to concentrate plan investments in Gannett’s parent company common stock was a breach of their fiduciary duties under ERISA and caused a loss of approximately $135 million.