Firm Memoranda

Supreme Court Decision Allows ERISA Remedy for Individual Damages Claims for Breach of Fiduciary Duty

Date: 03/04/08

On February 20, 2008, the U.S. Supreme Court unanimously decided LaRue v. DeWolff, Boberg & Associates, Inc. The Supreme Court held that the Employee Retirement Income Security Act of 1974 ("ERISA") permits a participant in a defined contribution plan to sue a fiduciary under § 502(a)(2) of ERISA for investment losses to the participant's individual account caused by a breach of fiduciary duty.

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