Benefits

  • May 08, 2024

    Hawaii Utility Seeks Exit From Shareholder Suit Over Maui Fire

    Hawaiian Electric Industries Inc. has asked a California federal judge to toss an investor suit over a downturn in the company's stock price after a deadly fire broke out on Maui, saying it did not mislead investors about efforts to mitigate fire risk or completely outrule the risk of fire.

  • May 08, 2024

    Teva Must Face Bulk Of Asthma Inhaler Antitrust Suit

    A Massachusetts federal judge largely refused Tuesday to toss antitrust claims accusing Teva of a decadelong anticompetitive scheme to delay generic competition for its blockbuster QVAR asthma inhalers, finding it plausible that Teva paid off a would-be rival and forcibly switched doctors and patients to a new product.

  • May 08, 2024

    ESOP Trustee Can't Ax Suit Claiming $60M Inflated Stock Deal

    A Michigan federal judge left most of a suit intact Wednesday alleging the trustee of a steel company's employee stock ownership plan allowed it to buy $60 million in company stock at an inflated price, ruling that the worker behind the suit backed his claims with enough detail.

  • May 08, 2024

    Sens. Call For Revamp Of SEC's Nixed Stock Buyback Rules

    The U.S. Securities and Exchange Commission should "promptly" reissue disclosure rules vacated by the Fifth Circuit last year so that companies are required to publicly disclose more information on their share repurchase plans, a bipartisan pair of U.S. senators told the agency's leader on Monday.

  • May 08, 2024

    AMC Objector Says Chancery Settlement Lacked Due Process

    An AMC Entertainment Inc. stockholder who opposed a class settlement that the company reached with other shareholders to end Chancery Court litigation over a controversial share conversion told Delaware's Supreme Court Wednesday that the deal should be unwound for lack of due process.

  • May 08, 2024

    Labaton, Boston Pension Win Bid to Lead NYCB Investor Suit

    A New York magistrate judge appointed Boston's municipal pension plan and its attorneys from Labaton Keller Sucharow LLP to lead a proposed securities class action against New York Community Bancorp Inc. after the pension plan successfully showed that the plaintiff with the greatest losses bought their shares too late.

  • May 08, 2024

    Scooter Co.'s Mismanagement Cost ESOP Millions, Suit Says

    A scooter company violated federal benefits law by putting too much of workers' retirement funds into investments that produced meager returns and causing its employee stock ownership plan to lose out on about $3.3 million since 2018, a proposed class action filed in Pennsylvania federal court said.

  • May 08, 2024

    Icahn, Xerox Investors Settle Nixed HP Merger Suit For $2.2M

    Carl Icahn will pay $2.2 million to Xerox under an agreement reached with a pair of the company's stockholders, who accused the billionaire investor in a consolidated shareholder derivative lawsuit of trading on non-public information regarding Xerox's now-doomed bid to acquire HP Inc. for $33 billion.

  • May 08, 2024

    Lighting Co. Reaches Deal To End Parental Leave Suit

    A lighting company struck a deal with a former project manager who accused the company of firing him because he asked to take parental leave after his child was born and he was then stuck in Egypt at the outset of the pandemic, a Massachusetts federal court filing said.

  • May 07, 2024

    Apple's $490M Investor Deal Needs 'A Little Bit More Work'

    A California federal judge refused Tuesday to preliminarily approve Apple's $490 million deal to end investors' class action alleging they were misled about iPhone sales in China, saying that while key terms are "satisfactory," the plan needs "a little bit more work," like fixing a "convoluted" notice to investors.

  • May 07, 2024

    Astec Inks $13.7M Investor Deal Over Wood Pellet Plant Woes

    An investor in manufacturer Astec Industries Inc. has asked a Tennessee federal judge for an initial green light on a $13.7 million deal to end claims the company misrepresented business prospects for its wood pellet plants.

  • May 07, 2024

    Cigna Escapes Post-Judgment Accounting Bid In ERISA Row

    A federal judge in Connecticut has denied a bid by a class of 25,000 Cigna Corp. workers for post-judgment discovery in an ERISA feud that has stretched on for 23 years, shutting down claims that the insurer violated court orders by improperly calculating award payments to class members.

  • May 07, 2024

    Organic Grocery Chain Settles COBRA Notice Suit For $400K

    An organic grocery store chain will pay $400,000 to close a proposed class action claiming it regularly failed to alert workers that they could extend their health insurance benefits if their coverage ended after losing their jobs, according to a Pennsylvania federal court filing.

  • May 07, 2024

    Hartford Settles Long-COVID Patient's Benefits Suit

    Hartford Life and Accident Insurance Co. reached a deal to end a lawsuit accusing it of unlawfully refusing to pay out long-term disability benefits for a patient suffering lasting effects from a COVID-19 infection, according to filing Tuesday in Michigan federal court.

  • May 07, 2024

    DOL Official Says Expect Pension De-Risking Report Soon

    The U.S. Department of Labor's employee benefits chief said Tuesday the agency expects to submit a report to Congress shortly on so-called pension risk transfers, which involve the exchange of defined benefit pension plan liabilities for annuity insurance contracts.

  • May 07, 2024

    Paycom Brass Face Investor Suit Over Future Revenue Woes

    The top brass of human resources technology company Paycom Software Inc. have been hit with a shareholder derivative suit alleging that executives failed to disclose that a new product to streamline payroll processes was threatening its future revenue by helping companies avoid errors they would otherwise pay to fix.

  • May 07, 2024

    Amazon Worker Wants Class Cert. In Military Leave Suit

    A former Amazon worker urged a New York federal court to greenlight a more than 9,000-member class of military reservists in her lawsuit accusing the e-commerce giant of failing to provide paid leave for employees on active duty, saying the dispute is best suited for class treatment.

  • May 07, 2024

    Santos Says Feds Overstepped With ID Theft Charge

    Former U.S. Rep. George Santos told a Brooklyn federal court that prosecutors used an unconstitutionally vague identity theft statute to charge him with reporting fake fundraising numbers to the Federal Election Commission.

  • May 06, 2024

    Judge Trims ESOP Valuation Suit Against Healthcare Co.

    A California federal judge has trimmed a lawsuit against KPC Healthcare Inc., its employee stock ownership plan committee and its investment manager Alerus Financial alleging that a sale of company stock was mismanaged.

  • May 06, 2024

    Cabot Settles Investor Suit Over Groundwater Pollution Claims

    Cabot Oil & Gas Corp. and a class of investors have reached a settlement resolving allegations the company misrepresented its environmental regulatory compliance before faulty gas wells polluted Pennsylvania's water supplies.

  • May 06, 2024

    Bridgewater Fights To Keep Bias Claims Under Wraps

    Connecticut asset management firm Bridgewater Associates LP fought Friday to keep dispute with two terminated employees over alleged discrimination in arbitration, saying the Federal Arbitration Act bans its ex-workers from using state court procedures contrary to private dispute resolution agreements, and from airing grievances in public.

  • May 06, 2024

    Goldman Objects To 1MDB Suit Class Cert. Recommendation

    Goldman Sachs and its former top brass have urged a New York federal judge not to adopt a magistrate judge's recommendation to grant certification to a proposed class of investors claiming losses from the 1MDB bond bribery scandal, saying the magistrate judge erred in concluding that Goldman's stock price was affected by alleged misstatements.

  • May 06, 2024

    Mass General Eyes Retirement Plan Fee Suit Settlement

    The Mass General healthcare system in Boston and a proposed class of its workers are in the process of negotiating an agreement to resolve the employees' claims that they were charged excessive administrative fees for their retirement plan, the parties told a Massachusetts federal court.

  • May 06, 2024

    Citgo Retirees' Mortality Table Data Suit Heads To Trial

    An Illinois federal judge refused Monday to grant Citgo a win in three retirees' proposed class action accusing the fuel company of shortchanging retirees by using outdated metrics to calculate early retirement payouts, saying the questions that remain are best suited for trial.

  • May 06, 2024

    Mass. Justices Wary Of Spiking Uber, Lyft Ballot Questions

    Justices on Massachusetts' highest court appeared unlikely Monday to strike down ballot proposals to reinvent app-based drivers' relationships with Uber, Lyft and the like, commenting that the scattershot ideas for voters in March all carry the underlying theme of creating a carveout from the state's worker-friendly employee classification law.

Expert Analysis

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • What 3rd Circ. Niaspan Decision Means For Class Cert.

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    The Third Circuit's recent denial of class certification in the Niaspan antitrust case underscores its particularly stringent understanding of the implicit ascertainability requirement, which further fuels confusion in the courts, threatens uneven results and increases the risk of forum shopping, says Michael Lazaroff at Rimon Law.

  • 3 Abortion Enforcement Takeaways 1 Year After Dobbs

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    A year after the U.S. Supreme Court overturned the constitutional right to abortion in Dobbs v. Jackson Women’s Health Organization, confusion continues to abound amid the quagmire of state-level enforcement risks, federal efforts to protect reproductive health care, and fights over geolocation data, say Elena Quattrone and Sarah Hall at Epstein Becker.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Weighing The Risks Of AI For Employee Benefits Admin

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    Although artificial intelligence has the potential to transform employers' administration of benefits, with these opportunities come great risks related to Employee Retirement Income Security Act fiduciary duties and preemption considerations, making the evolving state law landscape even more critical, say attorneys at Michael Best.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • What Courts Say About Workers' Comp And Medical Marijuana

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    Whether employers and insurance carriers are required or allowed to reimburse employees for out-of-pocket costs for treating work-related injuries with medical marijuana has spawned a debate, and the state courts that have addressed this matter are split on a number of issues, say Alexandra Hassell and Anthony Califano at Seyfarth.

  • What's Next For 5th Circ.'s ACA Preventive Care Suit

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    The Fifth Circuit's high-profile Braidwood v. Becerra case has significant ramifications for Affordable Care Act coverage requirements, and there is precedent to suggest that it could be ultimately decided by the U.S. Supreme Court, says Nicholas DiCarlo at Zuckerman Spaeder.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

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    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

  • Opinion

    6th Circ. Judge Correctly ID'd ERISA Civil Procedure Conflict

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    While the Sixth Circuit in Tranbarger v. Lincoln Life & Annuity recently affirmed a ruling that denied the plaintiff's disability benefits, one judge's concurrence should be commended for arguing that adjudication of such Employee Retirement Income Security Act cases fundamentally contradicts the Federal Rules of Civil Procedure, says Mark DeBofsky at DeBofsky Law.

  • Key Takeaways From Del. Chancery's Oracle Toss

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    The Delaware Chancery Court's recent finding that Oracle founder Larry Ellison didn't try to influence the company to overpay for its NetSuite acquisition offers important lessons on the determination of issues of control, including the importance of establishing an independent special committee, say attorneys at Fried Frank.

  • How REITs Can Prep For SEC's Repurchase Disclosure Rules

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    With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.

  • Tackling Judge-Shopping Concerns While Honoring Localism

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    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • Peeling Back The Layers Of Rep. George Santos' Indictment

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    Federal prosecutors' recent 13-count criminal indictment of Rep. George Santos reflects a focused, even simplified approach, showing the kind of careful scrutiny that charges against sitting members of Congress always merit, and leaving open questions about potential charges other enforcers could bring, say Rob Walker and Caleb Burns at Wiley.

  • Perspectives

    How Attorneys Can Help Combat Anti-Asian Hate

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    Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

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