Professional football players may be burly and menacing on the field, but they aren't invincible in the courtroom.
On Nov. 23, 2010, in Atwater v. National Football League Players Association, an 11th Circuit panel ruled against six former National Football League (NFL) players who sued the league and its players union, the National Football League Players Association (NFLPA), for negligence, negligent misrepresentation and breach of fiduciary duty.
Wright Was Wrong
"I have not seen another CBA with such a program," says Jonathan Spitz, partner at Jackson Lewis and national co-coordinator of the firm's Collegiate and Professional Sports Industry Group. "If the league and the players association take it upon themselves to create this program, people do have the right to expect that they're going to take some level of care."
Atwater should prompt businesses to be cautious in the way they present company investment plans. Employers can provide prudently chosen investment options, such as mutual fund groups, but doling out lists of hundreds of advisers from assorted firms isn't wise.