Editor's Note :

Editor's Note :

There is a possibility of opinions on Tuesday, March 28 and Wednesday, March 29. We will begin live-blogging at this link at 9:45 a.m.
On Tuesday the court hears oral argument in Lee v. United States. Amy Howe has our preview.

Breaking News :

Breaking News :

Gray v. Citigroup Inc.

Petition for certiorari denied on October 15, 2012
Docket No. Op. Below Argument Opinion Vote Author Term
11-1531 2d Cir. N/A N/A N/A N/A OT 2012
 
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Issue: (1) Whether, under Section 1104(a)(1)(B) of the Employee Retirement Income Security Act, a fiduciary of a plan that invests in qualified employer securities who knows, or should have known, that it is imprudent to invest in the employer’s securities is permitted to take no steps to protect plan participants and beneficiaries unless the employer is in a “dire situation” or near bankruptcy; and (2) whether, under Section 1104(a)(1)(B), a complaint by a plan participant against a fiduciary of such a plan need only plead facts making plausible the conclusion that the fiduciary failed to act with “care, skill, prudence, and diligence,” or whether instead the complaint must plead facts making plausible the conclusion that the fiduciary knew, or should have known, that the employer was in a “dire situation” or near bankruptcy.

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