Dorsey Partner Andrew Holly was interviewed by Jacklyn Wille for Bloomberg Law following a recent ruling by the US Court of Appeals in the Parker-Hannifin lawsuit. The ruling acknowledges ERISA claims based on "meaningful benchmark(s)" and may make it easier to challenge retirement fund investments in court. Andrew notes that "treating the S&P index as a meaningful benchmark under these facts represents a 'liberal view' of the pleading standard" and that "proper benchmarks are often more specific and are sometimes tied to disclosures made by the fund in question or accompanied by specific allegations showing why the comparison is valid."
Read the full article on Bloomberg Law. (A subscription is required)