State of New York v. Williams

How courts have described this case

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

• holding that in a case alleging that the defendants breached their fiduciary duties by making investments without independent investigation, the plaintiffs may recover only for those breaches that occurred within six years of the filing of the complaint
• noting that EIAPs are exempt from certain ERISA provisions because of the \strong policy and preference in favor of investment in employer stock\ (internal quotation marks omitted)
• noting that EIAPs are exempt from certain ERISA provisions because of the “strong policy and preference in favor of investment in employer stock” (internal quotation marks omitted)
• holding that while plaintiffs could discern from forms that the plan had lost money on recent investments, plaintiffs could not discern from the forms that the plan trustee had breached his fiduciary duty by failing to investigate the investments before making them
• explaining that “[acquisition of employer securities by an EIAP does not, in and of itself, violate any of the absolute prohibitions of ERISA ...” even though it may violate ERISA’s fiduciary duty of care
• \investigation of the merits of a particular investment is at the heart of the prudent person standard\

Source: CourtListener parenthetical corpus (CC0).