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Transcript of Oral Arguments

This is a statutory construction case.  And as such, we believe there’s a basic principle that can and should guide the Court’s decision in matters of statutory construction as it does in matters — many matters under the law.  And that — that principle is:  Words have meaning.  In this particular case, we have the luxury, not often afforded to litigants, that the Fifth Circuit has given us very clear direction as to the meaning of the statute in question arising out of the last time the Department of Labor sought to redefine who’s a “fiduciary” under ERISA.

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