At 9:30 a.m. on Monday we expect ... (click to view)
Editor's Note :
At 9:30 a.m. on Monday we expect additional orders from the Court's November 25 Conference. On Tuesday, December 2, we expect one or more opinions in argued cases; we will begin live blogging shortly before 10:00 a.m.
Gray v. Citigroup Inc.
Petition for certiorari denied on October 15, 2012
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.
How to prepare for oral argument; answering the questions asked; and the (limited) relation of ideas of Justices, the Court, and jurisprudence to the reality of oral argument. “Just the way they say, ‘Battle plans never survive contact with the enemy,’ oral argument plans never survive contact with the Court.” In this six-part interview, Eric Schnapper — […]
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