{"argument_date":"2014-04-02T00:00:00Z","arguments":[{"argument_date":"2014-04-02T00:00:00Z","heading":"What happened at the argument","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2013","official_transcript_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","paragraphs":["Mr. Long argued that offering employer stock is presumptively prudent.","Mr. Kneedler addressed the interests of employees as plan participants.","justice_questions"],"reargument":false,"sequence":1,"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-47","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 10, lines 39-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 25-37","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 11, lines 25-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 33-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 33-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 17-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 17-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 37-43","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 37-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 9-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 9-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 31-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 5, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 45-3","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 55, lines 45-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 7-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 7-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 4-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 58, lines 4-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 6, lines 43-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 29-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 7, lines 29-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 35-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 8, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 15-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 15-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 49-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 49-19"}]}],"caption":"Fifth Third Bancorp v. Dudenhoeffer","case_history":[{"changed_at":"2026-08-29T20:06:23.933802Z","explanation":"An official oral-argument transcript was verified.","status":"argued"},{"changed_at":"2026-08-29T20:06:23.952428Z","explanation":"An official oral-argument transcript was verified.","status":"argued"}],"case_status":"argued","dek":"Plaintiffs seek damages for alleged mismanagement. Defendants seek a legal presumption of prudence.","dek_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}],"dispositions":[],"latest_court_document_date":"2014-04-02T00:00:00Z","maturity":"official_transcript","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2013","official_disposition_urls":[],"official_docket_url":"https://www.supremecourt.gov/docket/docketfiles/html/public/12-751.html","primary_docket":"12-751","revisions":[{"correction_note":"Rewritten to the concise citizen-facing editorial standard.","created_at":"2026-08-30T20:44:17.331483Z","maturity":"official_transcript","revision_number":1},{"correction_note":"Migrated to the dated official Court activity contract without model use.","created_at":"2026-09-05T03:22:24Z","maturity":"official_transcript","revision_number":2}],"schema_version":"1.1","sections":[{"heading":"What this case is about","paragraphs":["This case tests the standard of care for ERISA fiduciaries managing employee stock ownership plans."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}]},{"heading":"How the case got here","paragraphs":["The Supreme Court heard oral argument in this case on April 2, 2014."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-47","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 10, lines 39-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 4-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 58, lines 4-7"}]},{"heading":"What each side wants","paragraphs":["Plaintiffs want full fiduciary liability for stock losses.","Defendants want a presumption that stock offers are prudent."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}]},{"heading":"What each side says","paragraphs":["Plaintiffs argue fiduciaries must act with undiluted loyalty.","Defendants argue statutory design implies a presumption of prudence."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}]},{"heading":"What the justices asked","paragraphs":["Justice Sotomayor asked if the plan required exclusive stock purchases.","Justice Kagan asked about fiduciaries with inside information on value."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-47","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 10, lines 39-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 25-37","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 11, lines 25-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 33-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 33-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 17-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 17-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 37-43","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 37-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 9-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 9-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 31-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 5, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 45-3","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 55, lines 45-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 7-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 7-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 4-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 58, lines 4-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 6, lines 43-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 29-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 7, lines 29-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 35-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 8, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 15-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 15-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 49-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 49-19"}]},{"heading":"Why it matters","paragraphs":["This dispute defines the legal duty of care for plan managers. It determines the scope of fiduciary liability in corporate retirement plans."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}]},{"heading":"What happens next","paragraphs":["This article currently covers the argument record. Use the official docket link for later case activity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-47","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 10, lines 39-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 25-37","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 11, lines 25-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 33-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 33-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 17-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 17-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 37-43","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 37-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 9-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 4, lines 9-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 31-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 5, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 45-3","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 55, lines 45-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 7-13","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 7-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 4-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 58, lines 4-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 6, lines 43-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 29-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 7, lines 29-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 35-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 8, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 15-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 15-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 49-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 9, lines 49-19"}]}],"slug":"2013-12-751-fifth-third-bancorp-v-dudenhoeffer","term":"2013","title":"Does ERISA shield ESOP fiduciaries from prudence claims?","title_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 24, lines 27-1","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 24, lines 27-1"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 3, lines 17-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 43, lines 49-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 43, lines 49-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 5-5","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2013/12-751_1pe4.pdf","page_label":"file page 56, lines 5-5"}],"topics":[],"undated_disposition_date_fallback":null,"updated_at":"2026-09-05T03:22:24Z"}