California Court of Appeal

In this case, plaintiffs allege that the actuarial negligence of defendants Buck Consultants and Loeb caused their pension trust to be dramatically underfunded, and that Buck and Loeb aided and abetted various breaches of fiduciary duty committed by plaintiffs' former employer in relation to the alleged underfunding. Judgment of dismissal is reversed and the case remanded, where: 1) Buck and Loeb knew about the employer's schemes to underfund the pension plan, and they provided substantial assistance and encouragement towards that end; and 2) a defendant may be found liable for aiding and abetting a breach of fiduciary duty even though the defendant owes no independent duty to the plaintiff, as here.

Appellate Information

• Decided 11/06/2014
• Published 11/06/2014

Judges

• Premo

Court

• California Court of Appeal

Counsel