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