Groom principal and co-chair of the firm’s Litigation group, William Delany, was featured in the Bloomberg Law article, “Cornell Retirement Plan Dispute Tees Up Circuit Split at SCOTUS,” where he commented on the potential impacts of Cornell University’s retirement plan going before the Supreme Court of the United States (“SCOTUS”), including a possible increase in ERISA litigation.
“If the plaintiffs’ view is correct, then the only thing they need to plead is the existence of an actual contractual or service relationship, not whether the relationship is necessary or reasonable,” said Delany.
According to Bloomberg Law, Delany said that “that would be a very low bar for allowing a case to advance because it’s ‘nearly impossible’ to operate a retirement plan without hiring outside vendors.”
The platform reported that Delany added that “the Cornell case gives the justices a ‘good set up’ to provide some thoughtful consideration of ERISA’s underlying policy and the interplay between its prohibited transaction rules and exemptions.”
Delany added, “It would be an opportunity missed if the court didn’t add clarity to such an important area of the statute.”
To read the article, click here.
