Supreme Court Declines to Hear Case Alleging Tolling Agreements Superseded by ERISA Limitation of Action Rules

In Preston v. Acosta No. 17-1238 (U.S., June 25, 2018), the Supreme Court refused to hear a challenge to an 11th Circuit decision (Preston v. Acosta, Oct. 12, 2017) that ruled that the CEO and trustee of the ESOP at TPP Holdings could not invoke a tolling agreement to halt a DOL lawsuit alleging that he had caused the ESOP at the company to overpay for the purchase of his shares in 2006 and again in 2008.