Petition of the day

Thepetition of the dayis:

Issue:(1) Whether the Ninth Circuit erred in holding that respondents, in seeking to prove their claims under the Employee Retirement Income Security Act (ERISA), could invoke the presumption of class-wide reliance approved by this Court for securities claims inBasic Inc. v. Levinson; (2) whether the Ninth Circuit erred in holding that a fiduciary of a companys employee-retirement plan must act with respect to publicly-traded securities on non-public information about the company in order to avoid liability under ERISA; and (3) whether the Ninth Circuit erred in holding that the presumption of prudence, which protects ERISA fiduciaries from liability in certain circumstances, applies only if the relevant retirement-plan language requires or encourages a fiduciary to invest in the employers own stock.