Equitable remedies recognized by the U.S. Supreme Court for fiduciary misrepresentation claims have created a whole new world of liability for ERISA plans. In Cigna v. Amara, the Court addressed three remedies for fiduciary misrepresentation: equitable estoppel, plan reformation and fiduciary surcharge (money damages). During this 60-minute session, we will provide an update on how the lower courts are applying these remedies and explain what it means for plan sponsors and other fiduciaries.
First, we provide background on the Court’s ruling in Amara and an update on the disposition of that case on remand. Next, we will look at themes playing out in post-Amara litigation. And lastly, we discuss examples of recent decisions applying these remedies.
Questions? Contact Lindsey Merek at +1 317 237 1289 or lindsey.merek@FaegreBD.com.