[Download] "Metzler v. Graham" by Fifth Circuit U.S. Court of Appeals # Book PDF Kindle ePub Free
eBook details
- Title: Metzler v. Graham
- Author : Fifth Circuit U.S. Court of Appeals
- Release Date : January 13, 1997
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 57 KB
Description
EDITH H. JONES, Circuit Judge: The Secretary of the United States Department of Labor alleges that Jack V. Graham violated his fiduciary duties under the Employee Retirement Income Security Act (""ERISA"") as plan administrator of the Graham Associates, Inc. (""GAI"") pension plan by failing to diversify the plan investments and by self-dealing. Specifically, the Secretary complains that Graham failed to diversify the plan assets by investing 63% of them in a single tract of undeveloped real estate, and he sacrificed the plan's best interests by buying land near other parcels in which he owned an interest. We agree with the district court's Conclusion that under the circumstances before us, Graham did not violate 29 U.S.C. § 1104(a)(1)(A) and (C), and we therefore affirm.
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