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Benefits
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September 12, 2024
UK Gov't Warned Over Pension Tax Changes In Budget
A trade body for actuaries said on Thursday that the government should consult widely and take time to implement any reform to pension taxation as it joins a growing number of organizations urging caution over potential tax changes ahead of the upcoming Budget.
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September 12, 2024
Labour MP Abrahams Named New Pensions Committee Chair
The parliamentary Work and Pensions Committee could investigate whether to pay billions of pounds in compensation to women affected by government state pension failings after Labour MP Debbie Abrahams was named its new chair.
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September 11, 2024
Litigation Spending To Rise As Cases Grow More Aggressive
A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in new legal talent to navigate the matters, according to a report released Thursday.
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September 11, 2024
Cedars-Sinai Workers Seek Class In Retirement Plan Case
A pair of former Cedars-Sinai Medical Center Inc. workers asked a California federal judge to greenlight a 16,000-person class in a lawsuit claiming their retirement plan was burdened with excessive fees and subpar investment options.
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September 11, 2024
Wayfair Beats Fired Worker's Disability Bias Suit At 3rd Circ.
The Third Circuit refused Wednesday to revive a disability bias suit from a former Wayfair warehouse worker who said the furniture retailer violated New Jersey law when it fired him, backing a trial court's finding that he couldn't handle the essential functions of his job.
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September 11, 2024
Uber, Postmates Ask Justices To Address AB 5 Classifications
Postmates and Uber urged the U.S. Supreme Court to reverse the Ninth Circuit's decision dismissing their constitutional challenge to California's worker classification law, arguing that A.B. 5 singles them out and strips them of equal protection under the law, according to their petition to the high court.
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September 11, 2024
Mass. Jury Weighs Raft Of Fraud Charges Against Ex-Pol
A Boston federal jury resumed deliberations Wednesday in a criminal case alleging a former Massachusetts state senator lied on his taxes and an application for pandemic unemployment aid, after the ex-politico testified in his own defense.
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September 11, 2024
UK Pension Funding Surplus Dips £500M After BoE Rate Cut
The funding surplus of U.K. pension plans fell by £500 million ($653 million), according to official figures, after the Bank of England cut interest rates in August.
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September 10, 2024
Natixis Worker Class Headed To Trial In 401(k) Suit
Natixis will have to go to trial over workers' claims that it mismanaged their investment funds, according to a Massachusetts federal judge's ruling Tuesday that rejected the French investment firm's objections to a magistrate judge's report and recommendations.
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September 10, 2024
Reynolds Wrap Co. Gets OK For $725K Retirement Fee Deal
An Illinois federal judge has granted final approval to a $725,000 settlement between a food packaging company that makes Reynolds brand products and participants in an employee 401(k) plan who alleged the company paid too much for recordkeeping fees.
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September 10, 2024
MedStar's $11.8M ERISA Deal Gets Final OK
A Maryland federal court gave final approval to an $11.8 million settlement between hospital chain MedStar Health and workers who said the company mismanaged their retirement plan.
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September 10, 2024
Research Outfit Strikes $3.4M Deal In Retirement Plan Fee Suit
Research and development nonprofit Mitre Corp. agreed to shell out $3.4 million to resolve a class action from workers who said their retirement plans were saddled with excessive fees, according to a Massachusetts federal court filing.
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September 10, 2024
Retention Bonus Not Wages Under Mass. Law, Court Finds
A retention bonus does not count as wages under Massachusetts' wage laws because it is a form of "contingent compensation," a state appellate division court ruled.
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September 10, 2024
State Pension Likely To Rise 4% Under Triple Lock
The U.K. government is likely to push through an inflation-busting increase to the state pension of approximately £460 ($600) a year from April, after official figures revealed on Tuesday a rise in average earnings.
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September 09, 2024
BAE Defeats ERISA Suit Over Abandoned Retirement Funds
A Virginia federal judge tossed a BAE Systems Inc. employee's suit claiming the company skirted federal benefits law by using forfeited funds in its retirement plan to pay off its contribution responsibilities, stating the plan's own documents required the company to use the funds this way.
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September 09, 2024
SeaWorld Strikes Deal To End 401(k) Class Action
SeaWorld told a California federal court it agreed to settle a class action accusing it of loading its $300 million employee retirement plan with high-cost funds and hiring expensive recordkeepers who charged more than double what similar plans were paying.
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September 09, 2024
Bradley Arant Adds Katten Partner In Dallas
Bradley Arant has hired a six-and-a-half-year veteran of Katten Muchin Rosenman LLP who is joining the firm's corporate and securities practice in Dallas as a partner.
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September 09, 2024
Catching Up With Delaware's Chancery Court
Delaware's Court of Chancery made some expensive decisions last week, ranging from a $130 million stockholder award and a freeze on $450 million in equity financing to a whopping $1 billion bill for fraud and breach of contract damages. New cases aimed at Virgin Galactic, settlements pulled in Hemisphere Media Group Inc. and court hearings involving Apollo Global Management heated up. In case you missed it, here's the roundup of news from Delaware's Court of Chancery.
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September 09, 2024
DOL Issues Updated Cybersecurity Guidance For ERISA Plans
The U.S. Department of Labor released new cybersecurity guidance applicable to the full gamut of retirement plans governed by the Employee Retirement Income Security Act, offering advice on topics including hiring service providers and best practices for keeping workers' information safe.
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September 09, 2024
2nd Circ. Upholds Regeneron's Win In Remote Work Suit
The Second Circuit rejected a former Regeneron Pharmaceuticals Inc. employee's appeal seeking to revive claims it illegally denied her a remote work situation to care for her daughter while she underwent medical care, ruling Monday that there was no evidence the company had willfully broken the law.
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September 09, 2024
White House Final Rule On Mental Health Parity Unveiled
The White House released a final rule Monday meant to boost employer health plans' compliance with a federal law requiring coverage for mental health and substance use disorder treatments that's at the same level as physical health care.
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September 06, 2024
ZoomInfo Sued By Investor Over Post-Lockdown Biz Pressure
Software company ZoomInfo Technologies Inc. has been hit with an investor proposed class action in Washington federal court alleging it hurt investors and its own reputation as it took desperate measures to maintain an early-pandemic customer boom and ultimately wrote down $33 million because of improperly recognized revenue.
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September 06, 2024
Calif. Has Underpaid State Court Judges For Years, Suit Says
A Sacramento County judge has filed a proposed class action on behalf of over 5,000 current and retired bench officers alleging they've been underpaid for the last several years over the state's failure to properly include special salary adjustments when calculating the average percentage salary increase for all state employees.
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September 06, 2024
VA Must Turn LA Campus Into Vets' Housing, Judge Says
A California federal judge on Friday ruled in favor of a class of disabled homeless military veterans alleging that they're facing disability discrimination due to the lack of permanent supportive housing on a West Los Angeles campus.
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September 06, 2024
X Corp. Shorted 3 Execs Millions In Severance, Suit Says
Three former executives of Twitter, now known as X, said in a California federal court suit that Elon Musk prevented them from collecting millions in severance benefits following his takeover of the social media company by falsely claiming they were fired for failing to cooperate in investigations.
Expert Analysis
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Series
Children's Book Writing Makes Me A Better Lawyer
Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
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A Review Of 2023's Most Notable Securities Litigation
There is much to be learned from the most prominent private securities cases of 2023, specifically the Tesla trial, the U.S. Supreme Court's Slack decision and the resolution of Goldman Sachs litigation, but one lesson running through all of them is that there can be rewards at the end of the line for defendants willing to go the distance, say attorneys at Fried Frank.
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FDA's Recent Litigation Records Are Strong, But Imperfect
The U.S. Food and Drug Administration has notched its share of litigation wins in recent years thanks to a number of key advantages, but the FDA has been less successful in certain highly visible arenas, Jonathan Berman and Colleen Heisey at Jones Day.
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ESG Investing Caught In Culture War Crosshairs In 2023
As 2023 draws to a close, ESG investing remains a raging battleground in the U.S. culture wars, as illustrated by the array of legislative efforts across the country aimed variously at restricting or promoting the use of ESG investing — but it remains to be seen what practical impact, if any, these laws will have, say Amy Roy and Robert Skinner at Ropes & Gray.
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Benefits Limitations Period Ruling Carries ERISA Implications
The First Circuit's recent decision in Smith v. Prudential — over enforcing a benefits claim limitations period that expires before the claim accrued — has ramifications for Employee Income Security Act cases, where limitations issues can arise in the termination of ongoing benefit payments rather than an initial application for benefits, says Mark DeBofsky at DeBofsky Law.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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When Patients Have Standing For Hospital Antitrust Suits
Brown v. Hartford Healthcare Corp., recently decided by a Connecticut state court, provides a useful examination of how antitrust standing issues may be analyzed when patients directly sue a healthcare system for anti-competitive conduct, says Charles Honart at Stevens & Lee.
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What 3rd Circ. Gets Wrong About Arbitration Enforcement
The Third Circuit and other courts should correct their current law, exemplified by the Third Circuit's recent decision in Henry v. Wilmington Trust, requiring a motion to dismiss based on an arbitration clause because it conflicts with the Federal Arbitration Act, the Federal Rules of Civil Procedure, and — with regard to the improper-venue approach — U.S. Supreme Court precedent, says David Cinotti at Pashman Stein.
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Series
The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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Series
Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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The SEC's Cooled Down But Still Spicy Private Fund Rules
Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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Opinion
Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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Pa. City Ch. 9 Ruling Raises Municipal Financing Concerns
A Pennsylvania district court’s recent ruling in a Chapter 9 case filed by the city of Chester, Pennsylvania, strengthens the foundations of the municipal bond market, but also demonstrates that bankruptcy courts continue to struggle with some of the features of municipal revenue bonds and issue rulings that contradict market expectations, say attorneys at Cadwalader.
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Series
Writing Thriller Novels Makes Me A Better Lawyer
Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.