The
The high courts unanimous ruling was a huge victory for the Employee Retirement Income Security Act of 1974 (ERISA).
The case was brought by James LaRue, an employee of a Dallas-based consulting firm, who gave specific instructions to his fund administrator to shift his investment from one mutual fund to another that was more conservative. His instructions were ignored and LaRue lost $150,000.
Writing for the court, Justice
Approximately 70 million Americans hold about $3 trillion in 401(k) investments.