US HB6084

Plaintiffs in ERISA lawsuits alleging fiduciary violations under Section 406(a)(1)(C) or (D) must plausibly allege and prove that the transaction is not exempt under Section 408(b)(2)

Plaintiffs challenging purchase or sale of qualified employer securities under Section 406 must plausibly allege and prove the transaction is not exempt under Section 408(e)

Discovery and proceedings are automatically stayed during Rule 12 motions to dismiss or pending replies to answers, unless a court finds particularized discovery necessary to preserve evidence or prevent undue prejudice

Parties must preserve all documents, data, and tangible objects reasonably believed relevant to the complaint during discovery stays, including documents held by custodians like recordkeepers

Courts may impose sanctions for willful failure to comply with document preservation requirements and may stay discovery in state court actions to protect federal jurisdiction