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Fifth Third Bancorp v. Dudenhoeffer

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Docket No. Op. Below Argument Opinion Vote Author Term
12-751 6th Cir. Apr 2, 2014 Jun 25, 2014 9-0 Breyer OT 2013

Holding: When a decision by a fiduciary of an “employee stock ownership plan” (ESOP) to buy or hold the employer’s stock is challenged in court, the fiduciary is not entitled to a “presumption of prudence.” Instead, ESOP fiduciaries are subject to the same duty of prudence that applies to Employee Retirement Income Security Act (ERISA) fiduciaries in general, except that they need not diversify the fund's assets.

Judgment: Vacated and remanded, 9-0, in an opinion by Justice Breyer on June 25, 2014.

SCOTUSblog Coverage

DateProceedings and Orders (key to color coding)
Dec 14 2012Petition for a writ of certiorari filed. (Response due January 22, 2013)
Jan 15 2013Order extending time to file response to petition to and including February 22, 2013.
Jan 22 2013Brief amicus curiae of Keycorp filed.
Jan 28 2013Consent to the filing of amicus curiae briefs, in support of either party or of neither party received from counsel for the petitioners.
Feb 22 2013Brief of respondents John Dudenhoeffer, et al. in opposition filed.
Mar 5 2013Reply of petitioners Fifth Third Bancorp, et al. filed.
Mar 6 2013DISTRIBUTED for Conference of March 22, 2013.
Mar 25 2013The Solicitor General is invited to file a brief in this case expressing the views of the United States.
Nov 12 2013Brief amicus curiae of United States filed.
Nov 25 2013Supplemental response filed by petitioners Fifth Third Bancorp, et al.
Nov 26 2013DISTRIBUTED for Conference of December 13, 2013.
Nov 26 2013Supplemental brief of respondents John Dudenhoeffer, et al. filed. (Distributed)
Dec 13 2013Petition GRANTED limited to Question 1 presented by the petition.
Jan 8 2014SET FOR ARGUMENT ON Wednesday, April 2, 2014
Jan 14 2014Record received from U.S.C.A. 6th Circuit. The record is electronic.
Jan 27 2014Joint appendix filed (3 volumes). (Statement of costs filed)
Jan 27 2014Brief of petitioners Fifth Third Bancorp, et al. filed.
Jan 28 2014Consent to the filing of amicus curiae briefs, in support of either party or of neither party, received from counsel for the petitioners.
Jan 30 2014Consent to the filing of amicus curiae briefs, in support of either party or of neither party, received from counsel for the respondents.
Feb 3 2014CIRCULATED.
Feb 3 2014Brief amicus curiae of KeyCorp filed. (Distributed)
Feb 3 2014Brief amicus curiae of Delta Air Lines, Inc. filed. (Distributed)
Feb 3 2014Brief amici curiae of Chamber of Commerce of the United States of America, et al. filed. (Distributed)
Feb 3 2014Brief amicus curiae of Securities Industry and Financial Markets Association filed. (Distributed)
Feb 3 2014Brief amicus curiae of ESOP Association filed. (Distributed)
Feb 26 2014Brief of respondents John Dudenhoeffer, et al. filed. (Distributed)
Feb 26 2014Letter proposing a lodging of material published in Tax Notes, March 2014, received from counsel for respondents. filed. (Distributed)
Feb 28 2014Proposal of counsel for respondents to lodge copies of an unpublished article cited to in their brief on the merits.
Mar 4 2014Brief amicus curiae of AARP filed. (Distributed)
Mar 5 2014Brief amicus curiae of United States filed. (Distributed)
Mar 5 2014Motion of the Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument filed.
Mar 5 2014Brief amicus curiae of American Federation of Labor and Congress of Industrial Organizations filed. (Distributed)
Mar 5 2014Brief amici curiae of Law Professors filed. (Distributed)
Mar 21 2014Motion of the Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument GRANTED.
Mar 24 2014Reply of petitioners Fifth Third Bancorp, et al. filed. (Distributed)
Apr 2 2014Argued. For petitioners: Robert A. Long, Jr., Washington, D. C. For respondents: Ronald Mann, New York, N. Y.; and Edwin S. Kneedler, Deputy Solicitor General, Department of Justice, Washington, D. C. (for United States, as amicus curiae.)
Jun 25 2014Judgment VACATED and case REMANDED. Breyer, J., delivered the opinion for a unanimous Court.
Jul 28 2014JUDGMENT ISSUED.