By: Mark S. Thomas and Robert W. Shaw
Willams Mullen (North Carolina and Virginia, USA)
In Lanfear v. Home Depot, Inc., No. 10-13002 (11th Cir. May 8, 2012), the U.S. Court of Appeals for the Eleventh Circuit joined five other federal circuit courts in adopting a presumption that, in the absence
of an abuse of discretion, retirement plan fiduciaries can comply with their duty of prudence when they continue to invest and hold plan assets in the plan’s employer stock investment option in compliance with plan directions. Applying that presumption, the court upheld the dismissal of the plaintiffs’ claims against the fiduciaries of the Home Depot, Inc. retirement plan. Click here to read entire article.
