U.S. Supreme Court

Case Status


Docket Number


2019 Term

Oral Argument Date

November 06, 2019


Questions Presented

Whether Fifth Third’s “more harm than good” pleading standard can be satisfied by generalized allegations that the harm of an inevitable disclosure of an alleged fraud generally increases over time.

Case Updates

Supreme Court issues favorable decision in ERISA stock-drop case

January 14, 2020

The Supreme Court vacated the Second Circuit’s unfavorable decision against IBM and remanding the case for further proceedings. The U.S. Chamber filed a coalition amicus brief in support of IBM’s cert. petition and again at the merits stage.

U.S. Chamber files amicus brief urging Supreme Court to reverse Second Circuit decision allowing ERISA stock-drop suit to proceed

August 13, 2019

This case concerns plaintiffs’ allegations that the fiduciaries for IBM’s employee stock ownership plan breached their duty to manage the plan’s assets prudently. The Second Circuit held that the plaintiffs stated a plausible claim that IBM’s retirement plan committee violated ERISA. The Chamber’s amicus brief urges reversal.

Nicole A. Saharsky and Brian D. Netter of Mayer Brown LLP served as co-counsel for the U.S. Chamber of Commerce on behalf of the U.S. Chamber Litigation Center.

Cert. petition granted

June 03, 2019

U.S. Chamber files coalition amicus brief urging Supreme Court to review Second Circuit decision allowing ERISA “stock drop” suit to proceed

April 08, 2019

Click here to view the Chamber’s amicus brief.

Russell L. Hirschhorn of Proskauer Rose LLP served as co-counsel for the amici.

Case Documents