Legal Opinion
Paul Saumer v. Cliffs Natural Resources
Court of Appeals for the Sixth Circuit
Decided April 7, 2017No. 16-3449PublishedCited by 25 opinions
1Opinion of the Court
OPINION
COOK, Circuit Judge.
The Employee Retirement Income Security Act (“ERISA”) regulates employer-administered retirement plans. To safeguard employees’ retirement assets, ERISA requires plan fiduciaries to, among other things, manage plan assets prudently and diversify investments “so as to minimize the risk of large losses.” 29 U.S.C. § 1104(a)(1). For the past forty years, however, ERISA has also encouraged employee ownership of employer stock. To promote this goal, ERISA permits companies to offer an Employee Stock Ownership Plan (“ESOP”) — a retirement option designed to invest…
2Cases cited19 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Moench v. RobertsonCourt of Appeals for the Third Circuit · 1995
- Kuper v. IovenkoCourt of Appeals for the Sixth Circuit · 1995
- Bennett v. MIS CORP.Court of Appeals for the Sixth Circuit · 2010
- Halliburton Co. v. Erica P. John Fund, Inc.Supreme Court of the United States · 2014
14 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Brotherston v. Putnam InvestmentsCourt of Appeals for the First Circuit · 2018
- Ann Dormani v. Target CorporationCourt of Appeals for the Eighth Circuit · 2020
- Jander v. Ret. Plans Comm. IbmCourt of Appeals for the Second Circuit · 2018
- Jaime Pizarro v. The Home Depot, Inc.Court of Appeals for the Eleventh Circuit · 2024
- Bruce Fulmer v. Scott KleinCourt of Appeals for the Fifth Circuit · 2018
20 more not listed; retrieve them via the Exa API.