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Supreme Court of the United States › Fiduciary Duty

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Akerman LLP

Purdue Pharma Foretells a Troubled Future for Bar Orders

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In Harrington v. Purdue Pharma L.P., the Supreme Court held that the Bankruptcy Code does not authorize a bankruptcy court to grant a release and injunction that extinguishes direct claims against nondebtor third parties...more

Morris James LLP

Supreme Court Affirms Chancery Decision of Near-Record $267 Million Fee Award

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In re Dell Techs. Inc. Class V S’holders Litig., No. 349, 2023 (Del. Aug. 14, 2024) - After an appeal of the second-largest fee award in Delaware history, the Delaware Supreme Court ruled that the Court of Chancery had...more

A&O Shearman

Texas court upholds Biden administration’s rule on ESG Investing for ERISA fiduciaries

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In a recent decision by the U.S. District Court Northern District of Texas, Judge Matthew J. Kacsmaryk ruled that the U.S. Department of Labor’s 2022 Rule (the 2022 Rule) on environmental, social, and governance (ESG)...more

ArentFox Schiff

ESG Update: Texas Federal Court Cites Loper Bright in Upholding Biden-Era ESG 401(k) Investing Rule

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A Biden-era US Department of Labor (DOL) Rule permitting consideration of environmental, social, and governance (ESG) factors when choosing investments as a “tiebreaker” was recently upheld by Texas federal Judge Matthew...more

Dechert LLP

No Toll for Corporations Leaving Delaware on a Clear Day

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Delaware Supreme Court holds business judgment rule applies to decision to reincorporate a company out of Delaware made on a “clear day.” For a non-ratable benefit to give rise to a conflict and trigger entire fairness,...more

DLA Piper

Supreme Court Debates ERISA Exemptions in Cunningham v. Cornell University

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The US Supreme Court heard argument on Wednesday, January 22, 2025 from Cornell University and its employees over dismissal of a class action alleging that Cornell University’s retirement plan paid unreasonable recordkeeping...more

Carlton Fields

The Case of Excessive Fees: Supreme Court to Investigate Pleading Standard in ERISA Excessive Fee Litigation

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ERISA class action litigation against retirement plan fiduciaries remains a prominent feature of the legal landscape this year. These lawsuits typically involve allegations that plan fiduciaries acted imprudently in...more

Polsinelli

Prohibited Transaction Pleading Standards To Receive Clarity From SCOTUS

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Key Takeaways - In October 2024, SCOTUS granted review of Cunningham v. Cornell University to provide guidance on certain pleading standards in ERISA litigation claims, with oral arguments scheduled for January 2025....more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

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We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Holland & Knight LLP

Supreme Court Urged to Resolve Split on ERISA Standing Requirements in Excessive Fee Cases

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Chavez v. Plan Benefit Services, Inc., 108 F.4th 297 (5th Cir. 2024), began when three employees of a single employer sued the service providers of their health and welfare benefit plan for allegedly charging excessive fees...more

Goodwin

Supreme Court Grants Review in ERISA Class Action Challenging Plan Sponsor’s Recordkeeping Arrangement

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Key takeaway: The Supreme Court granted certiorari to address the pleading standards for prohibited-transaction claims under 29 U.S.C. § 1106(a). On October 4, 2024, the Supreme Court granted certiorari in Cunningham v....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (52): The Loper Bright Decision and What it Means for DOL Exemptions (2)

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As I explained in my last post, Fiduciary Rule 51, I have been asked whether the Supreme Court’s decision in Loper Bright Enterprises et al. v. Raimondo, Secretary of Commerce et al. could affect the outcome of the litigation...more

Pillsbury Winthrop Shaw Pittman LLP

Developments in Association Law 2022 – 2024

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The following is a review of notable cases and regulatory developments for nonprofit organizations at the federal and state levels during the last two years....more

Seward & Kissel LLP

Employment Litigation Roundup: August 2024

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In a win for employers, the Connecticut Supreme Court defines “supervisor” narrowly for purposes of vicarious employer liability under Connecticut Fair Employment Practices Act - Under Connecticut’s civil rights law, an...more

Nossaman LLP

Relying on Loper, Fifth Circuit Sends Chevron-based decision Back to District Court, calling ESG Rule into Question

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On July 18, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) vacated a decision by the U.S. District Court for the Northern District of Texas (“District Court”) that upheld the U.S. Department of Labor’s...more

Mintz - Technology, Communications & Media...

Telephone and Texting Compliance News: Litigation Update — Second and Third Circuits Address Automatic Telephone Dialing Systems;...

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In the rapidly evolving landscape of Telephone Consumer Protection Act (TCPA) litigation, recent court decisions continue to provide defendant-friendly clarity as to what technology and platforms constitute automatic...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC

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On February 21, 2024, the U.S. Supreme Court decided Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC, No. 22-500. The Court held that choice-of-law provisions in maritime contracts are presumptively enforceable...more

Morgan Lewis - ML Benefits

Impact on ERISA Regulation if Supreme Court Throws Chevron Deference Overboard

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The US Supreme Court heard arguments on January 17 in Relentless v. Department of Commerce and Loper Bright Enterprises v. Raimondo. In both cases, a commercial herring fishing company challenged a regulatory requirement that...more

Goodwin

Second Circuit Rules that Syndicated Loans Are Not “Securities” Under State and Federal Law

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On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously  held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more

Foley & Lardner LLP

Does the Supreme Court’s Analysis in Thole v U.S., Bank, N.A. Apply to Welfare Benefit Plans?

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In Thole v. U.S. Bank, N.A., 140 S Ct. 1615 (2020), the Supreme Court, in a five to four decision authored by Justice Kavanaugh, held that participants in an ERISA defined benefit pension plan did not have standing under...more

Jenner & Block

Client Alert: The US Supreme Court Leads the Way in Eroding the Reach of Federal Fraud Statutes

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On May 11, 2023, the US Supreme Court issued decisions in two significant cases that will further define the future of mail and wire prosecutions, particularly in the context of public corruption: United States v. Ciminelli...more

Fox Rothschild LLP

Delaware Bankruptcy Court Latest to Determine that Refund of Excess Quarterly US Trustee Fee Payments is Appropriate

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The Fox Rothschild In Solvency blog previously covered the Supreme Court’s decision in Siegel v. Fitzgerald, 142 S. Ct. 1770 (2022), in which the 2017 amendment to 28 U.S.C. § 1930(a)(6) increasing quarterly fees payable to...more

Pillsbury - Policyholder Pulse blog

U.S. Supreme Court to Decide Whether State’s Public Policy Interest Could Sink Insurance Policy’s Choice-of-Law Provision

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The rare insurance dispute has appeared on the horizon for the nation’s highest court. Last month, the U.S. Supreme Court granted certiorari and agreed to take up the case of Great Lakes Insurance SE v. Raiders Retreat Realty...more

Proskauer Rose LLP

Individual Arbitration of ERISA Breach of Fiduciary Duty Claims – Is it Possible and, if So, Is It Worth It?

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As plan sponsors and fiduciaries cope with the increased volume of class action Employee Retirement Income Security Act (ERISA) lawsuits, some have considered the prospects of reducing their exposure through arbitration...more

Proskauer - Employee Benefits & Executive...

Northwestern University’s Alternative Explanations Not Strong Enough To Defeat ERISA Excessive Fee Claims

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On remand from the U.S. Supreme Court, the Seventh Circuit issued its opinion in Hughes v. Northwestern University, concluding that participants in two Northwestern 403(b) plans plausibly pled fiduciary-breach claims based on...more

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