High Court Seeks Government View In Stock-Drop Lawsuit

High Court Seeks Government View In Stock-Drop Lawsuit

WASHINGTON, D.C. - The U.S. Supreme Court on March 25 invited the solicitor general to file a brief expressing the view of the United States regarding a petition seeking high court review of a Sixth Circuit U.S. Court of Appeals ruling that Fifth Third Bancorp and its employee stock ownership plan (ESOP) trustees breached their fiduciary duties under the Employee Retirement Income Security Act by continuing to offer company stock as a retirement plan investment option at a time when the bank was engaged in subprime lending (Fifth Third Bancorp, et al. v. John Dudenhoeffer, et al., No. 12-751, U.S. Sup.).

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