7th Circuit Certifies ERISA Breach of Fiduciary Duty Class in Defined-Contribution Plan

7th Circuit Certifies ERISA Breach of Fiduciary Duty Class in Defined-Contribution Plan

This week we take a look at the recent Seventh Circuit decision in Abbott v. Lockheed Martin Corp., in which the court order the certification of a class action based upon breach of fidcuiary duty under ERISA for a defined-contribution plan. The decision finally answered the question left open by Spano v. Boeing Co.: when can a defined-contribution plan ERISA class action be brought.

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