October 01, 2018

The U.S. Supreme Court on Monday asked the federal government to weigh in on whether the court should consider a petition challenging the Eighth Circuit’s finding that participants in a U.S. Bank pension plan couldn’t sue over alleged fiduciary breaches because the plan was overfunded.

In their weekly order list, the justices invited the U.S. solicitor general to file a brief on two retirees’ bid to overturn the Eighth Circuit’s upholding of a district court’s dismissal of their Employee Retirement Income Security Act suit against U.S. Bank, U.S. Bancorp and various U.S. Bancorp directors. The retirees argued in their June petition for a writ of certiorari that the Eighth Circuit’s ruling put the appeals court at odds with other circuits and the long-held position of the U.S. Department of Labor.

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The retirees are represented by Karen L. Handorf, Michelle C. Yau and Mary J. Bortscheller of Cohen Milstein Sellers & Toll PLLC and Peter K. Stris, Douglas D. Geyser and John Stokes of Stris & Maher LLP.

The complete article can be accessed here.