In ERISA Account-Stripping Row, Claims Against 2 Defendants Survive Dismissal

Mealey's (December 21, 2022, 11:02 AM EST) -- NEW YORK — Denying dismissal as to two of three defendants in a retirement plan participant’s suit alleging that they should have acted differently to prevent a fraudster from stripping her account, a New York federal judge on Dec. 20 said in part that “The facts pleaded, if proved, would almost certainly suffice to make out a negligence claim against” one of those defendants “if it turned out not to be a functional fiduciary.”...

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