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U.S. Bank Pension Fight Gets Look From Law Professors, AARP (1)

Sept. 18, 2019, 6:20 PMUpdated: Sept. 18, 2019, 7:44 PM

U.S. Bank should have to face allegations that it caused nearly $750 million in pension plan losses, a group of law professors and several interest groups told the U.S. Supreme Court.

The high court this week received supporting briefs from the AARP, progressive consumer advocacy group Public Citizen, and eight law professors. Each brief urges the court to rule that pension plan participants can sue plan fiduciaries over alleged mismanagement, regardless of whether that mismanagement causes them to individually lose money.

James Thole accused U.S. Bank of mismanaging its pension plan by over-investing in high-risk equities and funds offered by...

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