United States Supreme Court

In a case to determine whether stockholders' complaint states a claim against petitioner fiduciaries for breach of the duty of prudence, the Ninth Circuit's reiteration of its previous conclusion that the complaint states such a claim is reversed where the Ninth Circuit failed to properly evaluate the complaint in light of Fifth Third Bancorp v. Dudenhoeffer, 573 U. S. ___ (2014), a case which set forth the standards for stating a claim for breach of the duty of prudence against fiduciaries who manage employee stock ownership plans (ESOPs).

Appellate Information

• Published 2016/01/25

Judges

• PER CURIAM

Court

• United States Supreme Court

Counsel