SANTOMENNO v. TRANSAMERICA LIFE INS. CO.

No. 16-56418.

883 F.3d 833 (2018)

Jaclyn SANTOMENNO; Karen Poley; Barbara Poley, individually and on behalf of Employee Retirement Income Security Act of 1974, etc.; as an investor in the Lommis Sayles Investment Grade Bond Ret. Opt. and the First American Mid Cap Growth Opportunities Inv. Opt., etc.; as an investor of Vanguard Target Ret., Plaintiffs-Appellees, v. TRANSAMERICA LIFE INSURANCE COMPANY; Transamerica Investment Management, LLC; Transamerica Asset Management, Inc., Defendants-Appellants.

United States Court of Appeals, Ninth Circuit.

Filed February 23, 2018.


Attorney(s) appearing for the Case

Brian D. Boyle (argued), Shannon Barrett , and Anton Metlitsky , O'Melveny & Myers LLP, Washington, D.C.; Catalina J. Vergara and Christopher B. Craig , O'Melveny & Myers LLP, Los Angeles, California; for Defendants-Appellants.

Arnold C. Lakind (argued) and Stephen Skillman , Szaferman Lakind Blumstein & Blader P.C., Lawrenceville, New Jersey; Lynn Lincoln Sarko , Derek W. Loeser , Michael D. Woerner , and Gretchen S. Obrist , Keller Rohrback LLP, Seattle, Washington; for Plaintiffs-Appellees.

Eric S. Mattson and Daniel R. Thies , Sidley Austin LLP, Chicago, Illinois; Lisa Tate , Vice President, Litigation & Associate General Counsel, American Council of Life Insurers, Washington, D.C.; Janet M. Jacobson, American Benefits Council, Washington, D.C.; Kate Comerford Todd and Janet Galeria , U.S. Chamber Litigation Center, Washington, D.C.; for Amici Curiae American Council of Life Insurers, American Benefits Council, and Chamber of Commerce of the United States of America.

Mary Ellen Signorille and William Alvarado Rivera , AARP Foundation Litigation, Washington, D.C., for Amici Curiae AARP and AARP Foundation.

Before: Jacqueline H. Nguyen and Andrew D. Hurwitz, Circuit Judges, and Richard Seeborg, District Judge.


OPINION

The Employee Retirement Income Security Act of 1974 ("ERISA"), Pub. L. 93-406, 88 Stat. 829 (codified at 29 U.S.C. § 1001 et seq.), imposes fiduciary duties on various parties in connection with retirement plans. This case turns on when and under what circumstances those duties attach. The district...

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