(Download) "Metzler v. Graham" by Fifth Circuit U.S. Court of Appeals # eBook 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.