Today’s opinion in Fifth Third Bancorp v. Dudenhoeffer rejects the rule – embraced by most of the courts of appeals – that fiduciaries of employer stock ownership plans (“ESOPs”) are entitled to a “presumption of prudence” in connection with their decisions to buy or hold the employer’s stock.  Rather, ESOP fiduciaries are subject to the … Continue reading Opinion analysis: Court rejects “presumption of prudence” for ESOP fiduciaries