Case: Health Care & Benefits/Fiduciary Duties (N.D. Cal.)

A federal district court in California denied NetApp Inc. summary judgment on an executive’s ERISA claim for breach of fiduciary duty related to the termination of its Executive Medical Retirement Plan. The court said that NetApp met its initial burden to demonstrate that reformation isn’t an appropriate equitable remedy in this case, and that the executive failed to meet his burden to come forward with evidence from which a reasonable trier of fact could find that reformation is an appropriate equitable remedy. And according to the court, surcharge based on unjust enrichment isn’t an available remedy, but surcharge based on ...