The Sixth Circuit today joined the Third and Seventh Circuits in holding that cashing out of an ERISA plan doesn’t kill standing to sue under section 502(a)(2). The statute allows a plan "participant" to bring a case for breach of fiduciary duty on behalf of the plan. The district court denied class certification on the ground that plaintiff Kermit D. Bridges lacked standing against his former employer, American Electric Power. Bridges v. Am. Elec. Power Co., Inc., No. 06-4100 (6th Cir. Aug. 15, 2007).
In case you missed them, check out the Third and Seventh Circuit decisions — both from 2007 — here and here, respectively.
Barry Barnett
