BUGIELSKI v. AT&T SERVICES, INC.

No. 21-56196.

76 F.4th 894 (2023)

Robert J. BUGIELSKI; Chad S. Simecek, individually as participants in the AT and T Retirement Savings Plan and as a representatives of all persons similarly situated, Plaintiffs-Appellants, v. AT&T SERVICES, INC.; AT&T Benefit Plan Investment Committee, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed August 4, 2023.


Attorney(s) appearing for the Case

John J. Nestico (argued), Schneider Wallace Cottrell Konecky LLP, Charlotte, North Carolina; Todd M. Schneider and James A. Bloom , Schneider Wallace Cottrell Konecky LLP, Emeryville, California; Todd S. Collins and Ellen T. Noteware , Berger Montague PC, Philadelphia, Pennsylvania; Jason H. Kim , Schneider Wallace Cottrell Konecky LLP, Los Angeles, California; Eric Lechtzin , Edelson Lechtzin LLP, Newtown, Pennsylvania; Shoham J. Solouki , Solouki Savoy LLP, Los Angeles, California; for Plaintiffs-Appellants.

Ashley E. Johnson (argued), Paulette Miniter , and Katie R. Talley , Gibson Dunn & Crutcher LLP, Dallas, Texas; Nancy G. Ross , Mayer Brown LLP, Chicago, Illinois; for Defendants-Appellees.

Before: Richard A. Paez and Bridget S. Bade, Circuit Judges, and Raner C. Collins, District Judge.


OPINION

The Employee Retirement Income Security Act of 1974 ("ERISA") establishes standards for employee benefit plans to protect the interests of plan participants. See 29 U.S.C. § 1001. To that end, ERISA imposes a duty of prudence upon those who manage employee retirement plans, prohibits plans from...

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