In the Varity Corp.v.Howe case,the U.S.Supreme Court held that fiduciaries:

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In the Varity Corp. v. Howe case, the U.S. Supreme Court ruled that a fiduciary has the duty not to mislead participants regarding their benefits in pension and welfare plans. Fiduciaries have a duty to be truthful but may not always have an affirmative duty to disclose all financial details of the company merely due to the ability of participants to invest in company stock.