Alabama District Court Rejects Application of LaRue in ESOP Participant Suit

In February of this year, the Supreme Court recognized the right of individual participants in defined contribution plans to sue for fiduciary breaches that impair the value of plan assets in a participant's individual account. LaRue v. DeWolff, Boberg & Associates, Inc. 128 S. Ct. 1020 (2008). In one of the first cases to consider LaRue's impact on individual ERISA claims, the U.S. District Court for the Middle District of Alabama has rejected a request to reconsider a dismissal of breach of fiduciary duty claims in a case involving an employee stock ownership plan (ESOP).

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