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High court sides with Fifth Third employees in dispute

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 The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.

The unanimous ruling came in a case involving a retirement fund invested primarily in the bank's stock.

The court considered whether those in charge of investing in the fund have the freedom or the duty to direct investment money elsewhere when they have reason to believe the stock price is inflated.

The employees said management knew that borrowers increasingly were defaulting on risky, subprime loans, but concealed that information or misled investors.

The Cincinnati-based banking company continued to invest in the stock-ownership fund even when the problems came to light and the share price plummeted.

The suit asserted that those actions violated management's duty to take good care of the employees' retirement money.

The 6th U.S. Circuit Court of Appeals allowed the case to proceed. The justices ordered the appeals court to re-examine the case in light of Wednesday's ruling, although they agreed with the appellate judges that the actions of bank management do not merit special protection when dealing with a bank-stock fund.

The name of the company stems from the union of two banks, the Third National Bank and the Fifth National Bank.

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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

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