Randy Kopp, an employee of Idearc Inc. and a participant in the Idearc Management Plan, brought this Employee Retirement Income Security Act class action. The district court dismissed Kopp's complaint alleging various breaches of fiduciary duty under Federal Rule of Civil Procedure 12(b)(6) for failure to state a claim. The "presumption of prudence" applies at the motion to dismiss stage, and Kopp failed to allege sufficient facts to over come the presumption. There is no general duty to disclose non-public information under ERISA. The district court's judgment is affirmed.
Kopp v. Klein
July 18, 2013