Nasrawi v. Buck Consultants, LLC
Annotate this CasePlaintiffs, retired public employees of Stanislaus County and beneficiaries of a public pension trust administered by the Stanislaus County Employees Retirement Association sued defendants, providers of actuarial services to the Association, claiming that actuarial negligence caused the pension trust to be dramatically underfunded. The Association has not sued the actuaries for malpractice, which plaintiffs allege constituted a breach of the Association’s fiduciary duties to them as beneficiaries. The trial court dismissed. The court of appeal affirmed dismissal of the Association, reasoning that the decision to sue or not is an exercise of discretion. The court reversed as to the actuaries, reasoning that a defendant may be found liable for aiding and abetting a breach of fiduciary duty even though the defendant owes no independent duty to the plaintiff.
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