Retirement Plans Committee v. Jander

Retirement Plans Committee v. Jander, 589 U.S. ___, was a United States Supreme Court case in which the Court declined to make a decision. The Court vacated and remanded to the Second Circuit Court of Appeals for consideration of arguments made for the first time in the Supreme Court briefing.

Description

The petitioners argued that the Employee Retirement Income Security Act of 1974 imposes no duty on an Employee Stock Ownership Plan fiduciary to act on inside information. The government argued that an ERISA-based duty to disclose inside information that is not otherwise required to be disclosed by the securities laws would "conflict" at least with objectives of the complex insider trading and corporate disclosure requirements imposed by the federal securities laws.