High Court Declines To Review 2nd Circuit Presumption-Of-Prudence Case

High Court Declines To Review 2nd Circuit Presumption-Of-Prudence Case

WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 13 denied review of the Second Circuit U.S. Court of Appeals unpublished order ruling that fiduciaries of the JP Morgan Chase 401(k) Savings Plan did not breach their fiduciary duties under the Employee Retirement Income Security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. (Isadore Fisher, et al. v. JP Morgan Chase & Co., et al.,  No. 12-298, U.S. Sup.).

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