The Supreme Court Brief covered the January 13 U.S. Supreme Court hearing Thole v. U.S. Bank N.A., where Joe Palmore argued for the bank in an ERISA suit over a $750 million pension plan loss.
“This case’s outcome does not matter to Plaintiffs,” Joe told the justices. “They challenge investment decisions Plan fiduciaries made regarding Plan assets. But Plaintiffs’ benefits are fixed. Win or lose, Plaintiffs will receive the exact same pension payments for the rest of their lives. The only individuals who would come out ahead are Plaintiffs’ attorneys – who have requested $31 million in fees.”
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