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- Roe v. Arch Coal, Inc.
Roe v. Arch Coal, Inc.
About this case
Filing year
2015
Status
Order issued.
Geography
Docket number
4:15-cv-00910
Court/admin entity
United States → United States Federal Courts → United States District Court for the Eastern District of Montana (E.D. Mo.)
Case category
Securities and Financial Regulation (US)
Principal law
United States → Employee Retirement Income Security Act of 1974 (ERISA)
At issue
Action alleging that coal company breached fiduciary duties in connection with employee pension plans by retaining stock in company.
Topics
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Documents
Filing Date
Document
Type
Topics
Beta
01/15/2016
Order issued.
The court stayed proceedings after Arch Coal filed a notice advising the court that it had filed a Chapter 11 bankruptcy petition in the bankruptcy court for the Eastern District of Missouri.
Decision
06/09/2015
Class Action Complaint Alleged That Arch Coal Breached Fiduciary Duties for Employees’ Pension Plans
Complaint filed.
A representative participant in the employee pension plan of Arch Coal, Inc. (Arch) filed a class action complaint against the company alleging breaches of fiduciary duty pursuant to the Employee Retirement Income Security Act (ERISA). The plaintiff asserted that the defendants retained Arch stock as investment options in the plans when a reasonable fiduciary would have done otherwise. The complaint alleged that defendants should have known that the pension plan’s investments in Arch stock were imprudent because of the “sea-change” in the coal industry. Causes of this “sea-change” cited in the complaint included the regulation of carbon dioxide emissions from power plants.
Complaint
Summary
Action alleging that coal company breached fiduciary duties in connection with employee pension plans by retaining stock in company.
Topics mentioned most in this case Beta
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Group
Topics
Target
Policy instrument
Risk
Just transition
Renewable energy
Fossil fuel
Greenhouse gas
Economic sector
Adaptation/resilience
Finance