The long-awaited ruling from a Texas federal court on the legality of the Labor Department’s fiduciary rule may be relegated to the dustbin of history before anyone reads the decision.
According to Erin Sweeney, a Washington, D.C.-based attorney with Miller & Chevalier, the Departments of Justice and Labor intend to stop defending the case and are in settlement discussions with plaintiffs and the court.
Judge Barbara Lynn, the chief U.S. district judge for the Northern District of Texas, issued a statement last week saying her decision would be released no later than Friday, February 10.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
