Panel Overturns Dismissal Of ERISA Imprudence Claim On Share Class Allegations

Mealey's (July 14, 2022, 12:36 PM EDT) -- CINCINNATI — In a July 13 opinion addressing a claim not covered in the court’s recent Smith v. CommonSpirit Health decision, a Sixth Circuit U.S. Court of Appeals panel reversed dismissal of an imprudence claim as to allegations that retirement plan participants were offered “more expensive mutual fund shares” even though the plan could have accessed cheaper shares with the same investment strategy, management team and investments....