DISCLAIMER: Any unofficial case summaries below are prepared by the clerk's office
as a courtesy to the reader. They are not part of the opinion of the court.
122056P.pdf 03/19/2014 Ronald Tussey v. ABB, Inc.
U.S. Court of Appeals Case No: 12-2056
and No: 12-2060
and No: 12-3764
and No: 12-3895
U.S. District Court for the Western District of Missouri - Jefferson City
[PUBLISHED] Riley, Author, with Bright and Bye, Circuit Judges]
Civil case - ERISA. In a class action by current and former employees of
ABB alleging ABB and Fidelity breached their fiduciary duties with respect
to two retirement plans, that portion of the district court judgment which
found the ABB fiduciaries had breached their duties with respect to
recordkeeping is affirmed; however, that portion of the judgment and award
which found they breached their duties with respect to the employees'
investment selection and mapping claims is reversed and remanded for
further proceedings; the district court erred in finding Fidelity, the
plan manager, breached its fiduciary duty by its handling of the "float"
and "float" income, as the float was not a plan asset. Attorneys' fees
award vacated and remanded for further consideration in light of the
court's opinion. Judge Bye, dissenting in part.