Tuesday, September 25, 2007
The United States Supreme Court will be hearing the LaRue ERISA case after all. SCOTUSblog reports today:
In another order Tuesday, the Court denied a motion to dismiss a previously granted case -- LaRue v. DeWolff, Boberg & Associates (06-856). The case involves the right of a pension plan participant to sue the plan manager to recover losses that worker suffered in a pension account. The motion to dismiss claimed that the individual involved had cashed-out his account, so there remained no live issue.
As I and ten other law professors argued, along with petitioner, there is still standing because there would have been more money to cash out if there had not been a breach of fiduciary in the first place. Nice to be on the right side of an issue once in a while!