Over the last few months, there have been a significant number of court decisions ruling against plaintiffs alleging Employee Retirement Income Security Act breach of fiduciary claims related to single-stock funds, including a Fourth Circuit decision in Richard G. Tatum et al. v. RJR Pension Investment Committee et al., No. 16-1293 (4th Cir.).
These recent decisions suggest a new era in the ongoing saga of ERISA single-stock fund litigation — and one that may bode well for ERISA plan fiduciaries. However, even with these decisions, plan fiduciaries continue to face risks related to single-stock funds, and appropriate fiduciary process remains critically important.