Legal Opinion
Rinehart ex rel. Buzzo v. Lehman Bros. Holdings Inc.
Court of Appeals for the Second Circuit
Decided March 18, 2016No. Docket No. 15-2229PublishedCited by 57 opinions
1Per curiam
This case returns to the Court for the second time since 2013. After the September 2008 bankruptcy of Lehman Brothers Holdings, Inc. (“Lehman”), Plaintiffs-Appellants (“Plaintiffs”) brought suit on behalf of a putative class, of former participants in an employee stock ownership plan (“ESOP”) invested exclusively in Lehman’s common stock. Plaintiffs alleged that Defendants-Appellees (“Plan Committee Defendants” or “Benefit Committee Defendants”), who were fiduciaries of this ESOP, breached their duty of prudence under the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §§…
2Cases cited18 opinions
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3Cited by57 opinions
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