In re Schering-Plough Corporation ERISA Litigation, No. 08-4814; Third Circuit; opinion by Rendell, U.S.C.J.; filed December 21, 2009. Before Judges Rendell, Ambro and McVerry, District Judge, sitting by designation. On appeal from the District of New Jersey. [Sat below: Judge Hayden.] DDS No. 25-8-6263 [42 pp.]
Michele Wendel is a former employee of Schering-Plough Corporation who participated in the Schering-Plough Corporation employees’ savings plan, a defined contribution savings plan sponsored by Schering-Plough. Wendel and two other former Schering-Plough employees brought a class action against Schering-Plough and certain of its officers and directors under ERISA § 502(a)(2) arising out of the offering and management of the plan, asserting breach of fiduciary duty. The two other plaintiffs were dismissed by stipulation and Wendel is now the sole class representative.
