11th Circuit: Plan Participants Fail To Rebut Presumption Of Prudence

11th Circuit: Plan Participants Fail To Rebut Presumption Of Prudence

ATLANTA - The 11th Circuit U.S. Court of Appeals on May 8 ruled that former employees' allegations that the value of Home Depot Inc. stock trended downward significantly were insufficient to establish that the fiduciaries of Home Depot's retirement plan violated the Employee Retirement Income Security Act by abusing their discretion by continuing to invest in company stock in compliance with the terms of the plan (Raymond A. Lanfear, et al. v. Home Depot, Inc., et al.,  No. 10-13022, 11th Cir.; 2012 U.S. App. LEXIS 9321).

Find full version on lexis Advance®
Access this news story on lexis.com®