A federal district court in Mississippi ruled for the first time that the “more harm than good” pleading standard established by the Supreme Court in Fifth Third Bancorp v. Dudenhoeffer, 134 S. Ct. 2459 (2014), applied to employer “stock drop” claims brought against the fiduciaries of plans sponsored by closely-held corporations. Hill Brothers Construction Company, Inc. (“Hill Brothers”), a closely-held corporation, ceased operations and subsequently sent notice to all 401(k) plan (the “Plan”) participants that their retirement accounts were worthless... Continue Reading