ERISA Litigation Roundup: Federal District Court Dismisses ERISA Stock-Drop Suit

On September 30, 2021, the U.S. District Court for the District of Connecticut dismissed an ERISA stock-drop lawsuit brought against alleged fiduciaries of Aetna, Inc.’s (Aetna’s) employee stock ownership plan (ESOP), holding that the plaintiffs failed to state a fiduciary breach claim under ERISA.  Radcliffe v. Aetna, Inc., No. 3:20-cv-01274, 2021 WL 4477408 (D. Conn. Sept. 30, 2021).

For the full alert, visit the Faegre Drinker website.

The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.

About Author: Jeffrey P. Justman

Jeff Justman is a legal strategist and advocate who represents clients in shareholder and securities litigation, appellate matters, and class actions in state and federal courts across the country. Jeff also manages an active pro bono practice, with a particular emphasis on protecting the right to vote and to participate in the political process. View all posts by

©2024 Faegre Drinker Biddle & Reath LLP. All Rights Reserved. Attorney Advertising.
Privacy Policy