Sewright, et al. v. ING Groep, N.V., et al.

ERISA Stock Drop Liability

NCLC's Position

The issue in this case is whether ING breached its disclosure duties under ERISA by incorporating allegedly misleading SEC filings into certain communications to plan participants and allegedly failing to inform participants of non-public information about ING’s financial condition. In the past few years, the number of these ERISA “stock-drop” actions has surged. Because plaintiffs in these cases take aim at employer-sponsored funds in 401(k) plans, their claims threaten to chill companies’ use of such investment vehicles.   

Case Outcome

The parties settled this case.

Procedural History

Amicus brief filed 3/17/11.  Settlement on 5/29/12.

Case Documents