Review of Investment Funds Necessary to Fulfill Fiduciary Obligations: The Assistant Secretary for Employee Benefits Security at the U.S. Department of Labor ("DOL") issued a written statement this week indicating that 401(k) plan<SUP>1</SUP> fiduciaries should undertake a review of their plans’ mutual fund investment options in light of recent investigations and other regulatory developments in the industry.

A decision recently handed down by the Delaware Chancery Court, CML V, LLC v. Bax, indicates that creditors of a limited liability company ("LLC") organized under Delaware law do not have standing to institute derivative suits against an LLC’s management, even when the LLC is insolvent, unless the right is expressly set forth in the LLC’s organizational docu-ments or external agreements.