Supreme Court Reinforces Plaintiffs' High Bar in Employer Stock Drop Cases After Fifth Third v. Dudenhoeffer | Practical Law
The US Supreme Court reversed and remanded Amgen Inc. v. Harris for a second time, finding that the Ninth Circuit improperly applied the standard for fiduciary liability in employer stock drop cases it provided in Fifth Third v. Dudenhoeffer and that the plaintiff employee stockholders failed to include sufficient facts and circumstances in their complaint to satisfy that standard.