The Trouble with Tibble (Part II)

In a prior post, I made the mandatory connection between Harcourt Fenton Mudd and Tibble v. Edison.  The case has now been decided, and I really am not surprised that the Supreme Court has effectively preserved a six-year period for bringing claims for a failure to monitor adequately.  To me, the only real open question was whether the Court would impose a requirement that there be some kind of factual change within the six-year period.  Even that would have surprised me, and the Court, having no trouble with Tibble, did not go down that road.  The Court did clearly confirm a duty to monitor regarding fund selections, although, interestingly, the possibility was left open that, in this particular case, the plaintiffs forfeited their opportunity to argue that a failure to monitor is actionable absent a change in circumstances.  In any event, while there will still be some postscripts here, things are now at least a little more clear than . . . Mudd.