On August 30, 2016, the United States Court of Appeals for the Second Circuit confirmed that putative plaintiff failed to adequately allege that Arkin Solbakken LLP’s client fell within the purview of ERISA’s definition of a fiduciary. The Court of Appeals further determined that the Complaint failed to articulate facts that would allow for the plausible inference of aiding and abetting liability. All counts filed against AS LLP’s client were dismissed.
