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- Title
ERISA MISREPRESENTATION AND NONDISCLOSURE CLAIMS: SECURITIES LITIGATION UNDER THE GUISE OF ERISA?
- Authors
Bravo, Clovis Trevino
- Abstract
The article discusses the misinterpretations and nondisclosure claims under the U.S. Employee Retirement Income Security Act (ERISA) of 1974 wherein many employees whose company-sponsored retirement saving plans were heavily invested in the stock of their employers have seen their account balances depleted. It presents an overview of ERISA fiduciary duties which were supposed to assure the equitable character and financial soundness of retirement and other benefit plans. Procedurally, ERISA may allow plaintiffs to proceed with the nondisclosure claims and avoid early dismissal of their case and obtain a favorable settlement.
- Subjects
UNITED States; EMPLOYEE Retirement Income Security Act of 1974; EMPLOYEE benefit laws; EMPLOYEE savings plans; RETIREMENT income laws; PENSION laws; FIDUCIARY liability; NONDISCLOSURE
- Publication
Hofstra Labor & Employment Law Journal, 2009, Vol 26, Issue 2, p497
- ISSN
1189-3332
- Publication type
Article