Eversheds Sutherland 11th Circuit Business Blog
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SLUSA CLASS ACTION BAR IS BROAD ENOUGH TO COVER EVEN SOME BREACH OF FIDUCIARY DUTY CLAIMS

In Cochran v. Penn Mutual Life Insurance Co., 35 F.4th 1310 (11th Cir. May 31, 2022), the Eleventh Circuit affirmed the district court’s dismissal of a claim for breach of fiduciary duty as barred by the Securities Litigation Uniform Standards Act (SLUSA). After Jeffrey Cochran’s 401(k) retirement plan was terminated by his employer, he transferred his funds into a rollover individual...