Issue: (1) Whether the Sixth Circuit erred by holding that respondents were not required to plausibly allege in their complaint that the fiduciaries of an employee stock ownership plan abused their discretion by remaining invested in employer stock, in order to overcome the presumption that their decision to invest in employer stock was reasonable, as required by the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1101 et seq. (“ERISA”), and every other circuit to address the issue; and (2) whether the Sixth Circuit erred by refusing to follow precedent of this Court (and the holdings of every other circuit to address the issue) by holding that filings with the Securities and Exchange Commission become actionable ERISA fiduciary communications merely by virtue of their incorporation by reference into plan documents.
In an unanimous decision, the Court held that a soybean farmer cannot reproduce agri-giant Monsanto’s patented, genetically modified seeds through planting and harvesting without the company’s permission. Marcia Coyle of The National Law Journal joins Jeffrey Brown to discuss the legal, agricultural, and technological implications of this decision.
At 9:30 a.m. on Monday we expect orders from the May 16 Conference. Our list of “Petitions to watch” for that Conference is here. At 10 a.m. we expect opinions in argued cases. We will begin live blogging shortly before 9:30.
On Thursday the Justices will meet for their May 23 Conference. Our list of “Petitions to watch” for that Conference is here.
Bloomberg Law and SCOTUSblog’s Supreme Court Challenge
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