Forum
U.S. Court of Appeals for the Eleventh Circuit
Case Status
Resolved
Docket Number
10-11948-DD
Case Updates
Case settled
May 29, 2012
U.S. Chamber files brief addressing ERISA stock drop liability
March 17, 2011
The issue in this case is whether ING breached its disclosure duties under ERISA by incorporating allegedly misleading SEC filings into certain communications to plan participants and allegedly failing to inform participants of non-public information about ING’s financial condition. In the past few years, the number of these ERISA “stock-drop” actions has surged. Because plaintiffs in these cases take aim at employer-sponsored funds in 401(k) plans, their claims threaten to chill companies’ use of such investment vehicles.
Case Documents
- Sewright, et al. v. ING Groep, N.V., et al. (NCLC Motion to File).pdf
- Sewright, et al. v. ING Groep, N.V., et al. (NCLC Brief).pdf