2nd Circuit Affirms Judgment On Pleadings For JP Morgan In Stock-Drop Case

2nd Circuit Affirms Judgment On Pleadings For JP Morgan In Stock-Drop Case

NEW YORK - Fiduciaries of the JP Morgan Chase 401(k) Savings Plan did not breach their fiduciary duties under the Employee Retirement Income Security Act by offering company stock as an investment option when the company had billions of dollars in undisclosed loss exposure to Enron Corp., the Second Circuit U.S. Court of Appeals affirmed May 8 in an unpublished order (Isadore Fisher, et al. v. JP Morgan Chase & Co., et al.,  No. 10-1303-cv, 2nd Cir.; 2012 U.S. App. LEXIS 9288).

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