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ERISA – Breach of Fiduciary Duty

We consider in this case whether the Employee Retirement Income Security Act (ERISA) preempts certain state-law claims brought by bankruptcy creditors on behalf of a company against its directors and officers and others alleged to have inflated the company’s stock value to conceal the company’s decline and to benefit corporate insiders. We hold that ERISA does not preempt the plaintiffs’ claims against the company’s directors and officers.

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