Opinion ID: 2801225
Heading Depth: 3
Heading Rank: 2

Heading: Post-1992 Plan-JDS Share Repurchases

Text: 3 At trial, the district court determined that “because . . . the fiduciaries’ breaches of their duties did not cause a material harm to the Plan, plaintiffs are not entitled to damages.” That conclusion remains unchallenged on appeal. The Plan Participants affirmatively abandoned their claim to monetary relief, but continue to pursue their claims for equitable relief. To the extent any additional money damages claim might underlie the claim for equitable relief, the Plan Participants waived that claim. Notably, both in their briefs and at oral argument, the Plan Participants could not articulate proposed equitable relief that is not tied into or an end-run around their claim for monetary relief. To the extent such a claim could be divined, the Plan Participants, who have already cashed out of the Plan, lack Article III standing as to redressability vis-a-vis their claims for prospective equitable relief. See Mayfield v. United States, 599 F.3d 964, 970 (9th Cir. 2010) (“Past exposure to harmful or illegal conduct does not necessarily confer standing to seek injunctive relief if the plaintiff does not continue to suffer adverse effects. [Lujan, 504 U.S. at 564.] Nor does speculation or ‘subjective apprehension’ about future harm support standing.”) (quoting Friends of the Earth, Inc. v. Laidlaw Envtl. Servs. (TOC), Inc., 528 U.S. 167, 184 (2000)). “Once a plaintiff has been wronged, he is entitled to injunctive relief only if he can show that he faces a ‘real or immediate 4 threat . . . that he will again be wronged in a similar way.’” Id. (omission in original) (quoting City of Los Angeles v. Lyons, 461 U.S. 95, 111 (1983)). In light of this determination, we not specifically address every claim the Plan Participants raise on appeal.1 With respect to most of the Plan Participants’ claims, any error was harmless in view of the unavailability of the requested equitable relief and the waiver and abandonment of monetary claims.