The US Supreme Court invited the US solicitor general to weigh in on a case by former Ruby Tuesday Inc. executives asking what remedies courts can order in Employee Retirement Income Security Act cases.
The executives’ petition asks the justices to resolve a circuit split over whether courts hearing ERISA cases can order equitable surcharge—a money payment made by a plan fiduciary that’s meant to address losses stemming from wrongdoing. The Second, Fifth, Seventh, Eighth, and Eleventh circuits have allowed this type of remedy to some degree, while the Fourth and Sixth circuits have ruled that ...