On June 21, 2022, the Sixth Circuit in Smith v. CommonSpirit Health unanimously affirmed the decision of the Eastern District of Kentucky dismissing with prejudice a putative class.
In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss.
The defendant in the case, CommonSpirit Health, was accused of committing fiduciary breaches in the provision of an active target-date fund suit allegations rejected both in district court and on appeal.