Sixth Circuit Revives ERISA Class Action Against State Street over GM Employee Plans

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The Sixth Circuit stuck with four other circuit courts in holding that ERISA protects managers who invest employee funds in a company's stock so long as they do so prudently. But in a victory for lead plaintiffs counsel at Scott + Scott and the Department of Labor, the panel departed from at least two circuits in concluding that the standard doesn't apply at the motion to dismiss stage.

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