The Second Circuit Adopts the “Moench Presumption”, Rejects Stock Drop Claims Against Citigroup.

Joining at least the Third, Fifth, Sixth, and Ninth Circuits, in finding a presumption of prudence attaches when defined contribution plans offer employer stock as an investment option, a divided panel of the Second Circuit today affirmed the dismissal of ERISA “stock drop” claims against Citigroup in In re: Citigroup ERISA Litigation, 09-3804 (Oct. 19, 2011).  

To read this blog post click here...