Wednesday, October 19, 2011

Second Circuit -- Gray v. Citigroup, Inc.

ERISA Administrator did not abuse discretion in including company stock as a retirement option.

No fiduciary obligation to disclose confidential information.

Concur/Dissent - No presumption of prudence means that there is an affirmative duty of communication - must disclose dangers to company.

Gray v. Citigroup, Inc.
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.