The Third Circuit affirmed dismissal of an ERISA putative class action brought by Allergan ESOP participants alleging breach of fiduciary duties of prudence, loyalty, and monitoring based on alleged price-fixing inflating stock prices. The court found plaintiffs failed to plausibly allege the underlying price-fixing conspiracy and affirmed denial of leave to amend.
This summary was generated to explain the ruling in plain English and is not legal advice.
Violation of ERISA
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