On the Record

By: Barbara Grzincic

With Bernie Madoff on every investor’s mind, our sister paper, Virginia Lawyers Weekly, offers this post on a recent decision by the 4th Circuit.

 ”The appellate court’s unpublished opinion in Browning v. Tiger’s Eye Benefits Consulting is worth a look for the panel’s discussion of the statute of limitations for breach of fiduciary duty claims under ERISA’s section 413,” Deborah Elkins writes.

The case involves a small tractor company whose 401(k) plan took a hit by investing in U.S. Capital Funding, branded by the 4th Circuit as “in reality, a Ponzi scheme.”

For those of us here in Maryland, it’s also worth noting for one other reason: the author, sitting by designation on the understaffed appellate bench, is our own U.S. District Judge Richard D. Bennett.