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1 Comment
State Street Sets Aside $618M for Pension Related Lawsuits [view article]
Actually, i think you miss the point. These aren't only ERISA issues -- these are broad "Suitability"... issues. Were the funds suitable and/or were the risks disclosed properly. And, in that fight, it's going to be very hard for investors to prove that the funds were unsuitable. As to ERISA, the fiduciary standards are pretty clear -- and so is the need to sue -- if a fiduciary doesn't sue, it might find itself liable. The lawsuit will almost be neccessary simply to clear the fiduciary itself -- that is, if the losses are due to market considerations, then the pension fiduciary also isn't liable to the beneficiaries of the pension. Jan 07 12:34 PM