United States Third Circuit

In a suit brought by a former employee alleging that defendant-employer and several of its officers breached their fiduciary duties under section 404 of ERISA by offering participants in three employee pension benefit plans the option of investing in defendant's common stock, Rule 12(b)(6) dismissal of the suit is affirmed as plaintiff failed to plead facts sufficient to establish that defendants breached their fiduciary duties under ERISA by: 1) imprudently offering defendant's common stock as an investment option; and 2) failing to disclose material information to plan participants.

Appellate Information

• Argued 04/24/2007
• Decided 09/26/2007
• Published 09/26/2007

Judges

• Before:  SCIRICA, Chief Judge, FUENTES and ALARCÓN, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Mark C. Rifkin (Argued), Wolf, Haldenstein, Adler, Freeman & Herz LLP, New York, NY, Counsel for Appellant.


• For Appellees:
  
• H. Douglas Hinson (Argued), Alston & Bird LLP, Atlanta, GA, Joseph A. Martin, Archer & Greiner, P.C., Haddonfield, NJ, Counsel for Appellees.