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LaRue v. DeWolff, Boberg & Associates, Inc., No. 06-856 (U.S. 2008)

Articles Discussing Case:

Ruling Allows Individuals To Recover Individual 401(k) Losses.

Ogletree Deakins • April 01, 2008
The U.S. Supreme Court recently disagreed with the Fourth Circuit Court of Appeals' decision that a participant in a 401(k) plan is prohibited from using Section 502(a)(2) of the Employee Retirement Income Security Act (ERISA) to recover losses allegedly caused by his employer's failure to carry out his investment instructions. "Although [Section] 502(a)(2) does not provide a remedy for individual injuries distinct from plan injuries," the majority wrote, "that provision does authorize recovery for fiduciary breaches that impair the value of plan assets in a participant's individual account."

Supreme Court Ruling Allows Individuals to Recover Individual 401(k) Account Losses.

Ogletree Deakins • February 21, 2008
Today, the U.S. Supreme issued its ruling in LaRue v. DeWolff, Boberg & Associates, Inc. The high court disagreed with the Fourth Circuit Court of Appeals' decision that a participant in a 401(k) plan is prohibited from using Section 502(a)(2) of the Employee Retirement Income Security Act (ERISA) to recover losses allegedly caused by his employer's failure to carry out his investment instructions. "Although [Section] 502(a)(2) does not provide a remedy for individual injuries distinct from plan injuries," the majority wrote, "that provision does authorize recovery for fiduciary breaches that impair the value of plan assets in a participant's individual account."