SCOTUS Reinstates Plaintiff’s Breach of Fiduciary Duty Action for Failure to Act as Reasonably Prudent Fiduciaries in Monitoring 401(k)’s Record

Jan 28, 2022

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In a decision likely to have a broad impact on ERISA plan fiduciaries, the U.S. Supreme Court reversed a lower court and held that a breach of fiduciary duty claim which alleged that the fiduciaries of two defined contribution plans sponsored by Northwestern University failed to properly monitor their offered investments could proceed to discovery.

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