MATNEY v. BARRICK GOLD OF NORTH AMERICA

No. 22-4045.

80 F.4th 1136 (2023)

Cole MATNEY and Paul Watts, individually and on behalf of others similarly situated, Plaintiffs-Appellants, v. BARRICK GOLD OF NORTH AMERICA; Board of Directors of Barrick Gold of North America; Barrick U.S. Subsidiaries Benefits Committee, Defendants-Appellees. The Chamber of Commerce of the United States of America; The Erisa Industry Committee; The National Mining Association; The American Benefits Council; Investment Company Institute, Amici Curiae.

United States Court of Appeals, Tenth Circuit.

FILED September 6, 2023.


Attorney(s) appearing for the Case

Mark K. Gyandoh , Cappozi Adler, P.C., Harrisburg, Pennsylvania ( Donald R. Reavey and Gabrielle Kelerchian , Cappozi Adler, P.C., Harrisburg, Pennsylvania; David K. Isom , Isom Law Firm, PLLC, Salt Lake City, Utah with him on the brief), for Appellants.

Sanford I. Weisburst , Quinn Emanual Urquhart & Sullivan, LLP, New York, New York ( Kaitlin P. Sheehan , Alexander W. Resar , Quinn Emanual Urquhart & Sullivan, LLP, New York, New York; Stephen Q. Wood , Quinn Emanuel Urquhart & Sullivan, LLP, Salt Lake City, Utah with him on the brief), for Appellees.

Paul Lettow , U.S. Chamber Litigation Center, Washington, DC; Jaime A. Santos , Goodwin Procter LLP, Washington DC; Jordan Bock , Goodwin Procter LLP, Boston, Massachusetts; filed a brief on behalf of Appellees, for Amici Curiae Chamber of Commerce of the United States of America, The American Benefits Council, The ERISA Industry Committee, and The National Mining Association.

Elena Barone Chism , Investment Company Institute, Washington, DC; Amy D. Roy , Robert A. Skinner , Daniel V. Ward , Kelly M. DiSantis , Ropes & Gray LLP, Boston, Massachusetts; Douglas Hallward-Driemeier , Ropes & Gray LLP, Washington, DC; Joshua A. Lichtenstein , Phillip G. Kraft , Ropes & Gray LLP, New York, New York, filed a brief on behalf of Appellees, for Amicus Curiae Investment Company Institute.

Before TYMKOVICH, MORITZ, and ROSSMAN, Circuit Judges.


Appellants Cole Matney and Paul Watts (together, Mr. Matney) participated in an employer-sponsored retirement plan (the Plan). They brought this putative class action against Appellees—Barrick Gold of North America, Inc. (Barrick Gold), Barrick Gold's Board of Directors (Board), and the Barrick U.S. Subsidiaries Benefits...

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