Donovan v. Bierwirth

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that trustees failed to fulfill fiduciary duty by failing to do a more thorough job in ascertaining the facts surrounding the financial condition of pension funds
• noting that ERISA imposes “overlapping standards,” which require plan fiduciaries to discharge their duties loyally by employing the diligence of an objectively prudent person
• remarking that ERISA’s fiduciary duties are “the highest known to the law”
• engaging independent expert and following his advice does not “operate as a complete whitewash which, without more, satisfies ERISA’s prudence requirement”
• observing that duties of prudence and loyalty require insider-fiduciaries “to avoid placing themselves in a position where their acts as officers or directors of the corporation will prevent their No. 20-3389 27 functioning with the complete loyalty to participants de- manded of them” under ERISA
• fiduciaries’ “decisions must be made with an eye single to the interests of the participants and beneficiaries”

Source: CourtListener parenthetical corpus (CC0).