5th Cir. Remands Idearc Stock-Drop Claims, Citing Justices’ Post-Dudenhoeffer Remand

Participants in the Idearc Inc. eligible individual account plan will get another chance to prove that the plan’s fiduciaries breached their duties by not divesting the plan of company stock, the U.S. Court of Appeals for the Fifth Circuit ruled Aug. 7 (Kopp v. Klein, 2014 BL 220011, 5th Cir., 12-10416, unpublished 8/7/14).

In a per curiam order, the court vacated the decision of the U.S. District Court for the Northern District of Texas and remanded the case to the district court in light of the U.S. Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer, ...