Posted: 2/26/2008

In LaRue v. DeWolff, Boberg & Assocs., Inc., No. 06-856, 2008 WL 440748 (Feb. 20, 2008), the Supreme Court ruled that an individual participant in a 401(k) defined contribution plan can maintain a breach of fiduciary duty claim under ERISA, even though the alleged breach affected only the value of his own individual account.  The decision allowing the plaintiff to proceed with his lawsuit was unanimous, but three opinions were authored, each of which had a different take on the issue.  Attached is a memorandum discussing the opinions.

If you have any questions, please contact Mike Prame, Ted Scallet, Lars Golumbic or Will Wilder.

Mike Prame and Lars Golumbic held an audioconference to discuss this ruling on Thursday, March 20, 2008.  For more information, please click here.