APRIL HUGHES, ET AL., PETITIONERS v. NORTHWESTERN UNIVERSITY, ET AL., 595 U.S. 170

Summary

HOLDINGS: [1]-ERISA plan participants' suit alleging that plan administrators and others violated their duty of prudence by failing to monitor and control recordkeeping fees, offering investments that carried high fees, and by offering too many investment options, causing confusion and poor investment decisions, was erroneously dismissed for failure to state a claim because the appellate court did not properly apply the U.S. Supreme Court's guidance in Tibble; [2]-Specifically, the appellate court's exclusive focus on the participants' ultimate investment choices failed to consider that plan fiduciaries were required to conduct an independent evaluation to determine which investments might be prudently excluded from a plan's options and that the timely failure to remove an imprudent investment from the plan could have breached the fiduciaries' duties.