Defense attorneys are hailing recent court victories in ERISA "stock-drop" lawsuits, brought for employees who lost money in retirement plans due to their companies' declining stock price. In the first case to go to trial, a federal judge ruled that US Airways had no duty to change stock holdings of employees who had several investment choices. "There is a trend toward limiting the liability of outside trustees," said Edwin Mills, who recently negotiated a $100 million proposed settlement with Time Warner.
Defense Scores in Pension Plan Stock-Drop Suits
The National Law Journal
August 9, 2006