James Thole v. U.S. Bank, National Assn.

SMITH, Chief Judge.

Named plaintiffs James Thole and Sherry Smith (collectively, “plaintiffs”)1 brought a putative class action against U.S. Bank, N.A. (“U.S. Bank”); U.S. Ban-corp; and multiple U.S. Bancorp directors (collectively, “defendants”),2 challenging the defendants’ management of a defined benefit pension plan (“Plan” or “U.S. Bank Pension Plan”) from September 30, 2007, to December 31, 2010. The plaintiffs alleged that the defendants violated Sections 404, 405, and 406 of the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. §§ 1104-06, by breaching their fiduciary…