DENNIS, Circuit Judge:
The Laborers National Pension Fund (Fund) filed suit against American National Bank and Trust Company of Chicago (ANB) for damages because of breach of fiduciary duties as the Fund's investment manager under the Employment Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. §§ 1001 et seq. After a bench trial, the district court determined that ANB's purchase of interest-only mortgage-backed securities (IOs) was not a...
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