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Benefits
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May 21, 2024
3rd Circ. Revives American Airlines Pilots' Military Leave Suit
The Third Circuit reopened a class action Tuesday accusing American Airlines of unlawfully denying pilots pay for short military assignments while compensating employees for jury duty and bereavement leave, ruling a trial is needed to determine whether time off for military service is fungible with paid absences.
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May 21, 2024
With Ex-Faegre Partner, Norton Rose Adds To ERISA Expertise
Norton Rose Fulbright has boosted its Washington, D.C., office with an ERISA litigator and experienced labor lawyer who most recently was with Faegre Drinker Biddle & Reath LLP.
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May 20, 2024
Alibaba Resists Class Cert. Over Failed Ant Group IPO
Chinese e-commerce company Alibaba has again urged a New York federal judge not to certify a class of investors who claim they weren't warned about regulatory risks Alibaba faced in the lead-up to a $34 billion initial public offering of its fintech affiliate, saying the suit's challenged misstatements did not affect Alibaba's stock price.
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May 20, 2024
DOL, Fringe Benefit Co. Strike Deal In Funds Management Suit
A fringe benefits company and two of its executives have agreed to pay over $4 million to resolve a U.S. Department of Labor lawsuit alleging they mismanaged funds meant for government contractor employees' benefits, the federal government told a Maryland federal court.
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May 20, 2024
Conn. Retools Bid To Deny Utility Board Member's Pension
The state of Connecticut on Monday agreed to retool two paragraphs of a complaint seeking to revoke the pension of a Norwich city employee convicted of misusing funds while serving on a public utility board, a move that a state trial court judge hoped would more swiftly adjudicate the dispute.
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May 20, 2024
2 House GOP Chairs Seek Study Of Premium Tax Credit Plan
The Republican chairmen of the House Ways and Means and Budget committees want the Congressional Budget Office and Joint Committee on Taxation to study the impact of making the expanded Affordable Care Act premium tax credits permanent.
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May 20, 2024
Patients Urge 9th Circ. To Deny UBH Petition In Claim Fight
Patients alleging United Behavioral Health mismanaged their mental health and substance use disorder treatment claims urged the Ninth Circuit not to grant the insurance company's petition for appellate court intervention in the consolidated action, arguing the effort was inappropriate and unjustified.
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May 20, 2024
Catching Up With Delaware's Chancery Court
Delaware was full of drama last week, as proposed changes to the state's corporate law statutes raised eyebrows and a professor's friend-of-the-court brief sparked a very unfriendly public exchange. Delaware's court of equity banged the gavel on pipeline and social media disputes, and shareholders filed new suits alleging insider trading, vote bungling, unfair stock buybacks and merger shenanigans. In case you missed any of it, here's the recap of all the top news last week from Delaware's Chancery Court.
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May 20, 2024
Co-Head Of Deadlocked $5B Wealth Firm Asks To Dissolve
A New York investment advisory firm managing $5 billion for elite clients including a minority owner of the St. Louis Cardinals is heading for trial in Delaware's Court of Chancery after one of its controlling members asked for a judicial dissolution, saying the company was deadlocked.
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May 20, 2024
6th Circ. Orders Sanctioned Prison Co. To Pay NLRB Atty Fees
The Sixth Circuit said a Federal Bureau of Prisons contractor has to pay the U.S. National Labor Relations Board's attorney fees from arguing the contractor should be held in contempt in a dispute over two fired union supporters, with one judge dissenting in part over 0.4 billable hour.
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May 17, 2024
Aramark Spinoff Faces Investor Action Over Slow Growth
Uniform supplier Vestis Corp. was hit with a proposed class action on Friday alleging that it concealed years of underfunding prior to being spunoff by Aramark last year, leaving it unable to grow its revenue and retain customers.
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May 17, 2024
Tech Co. Can Force Solo Arbitration In 401(k) Forfeiture Suit
A former Tetra Tech Inc. employee must individually arbitrate her suit alleging the company misused forfeited 401(k) contributions, a California federal judge said Friday, ruling federal benefits law doesn't override the arbitration agreement's bar on planwide reimbursement.
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May 17, 2024
Kohl's Directors' Aversion To Sale Was Self-Serving, Suit Says
A Kohl's shareholder has hit the retailer's brass with a derivative suit alleging they covered up the results of a disastrous shift in business strategy and takeover offers, all in a bid to protect their own positions.
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May 17, 2024
BCBS Says 'Clear' Contract Ends Ex-NBA Player's Suit
Blue Cross and Blue Shield of North Carolina pressed a state district court to throw out a lawsuit brought by retired NBA star Rodney Rogers that alleges in-home nursing was suddenly denied, arguing the "clear language" of his benefits doesn't provide for long-term, in-home nursing.
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May 17, 2024
Frontier Attacks Ex-CEO's $17M Life Insurance Tax Refund Bid
Pointing to a 2004 arbitration agreement and criticizing its ex-CEO's compensation, Frontier Communications has asked a Connecticut state court judge to hang up on a call by Leonard Tow to litigate a $17 million demand for reimbursements on life insurance policies.
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May 17, 2024
Industry Emboldened After Justices Galvanize Agency Attacks
In the year since the U.S. Supreme Court said "extraordinary" and "far-reaching" attacks on administrative enforcers can skip agency tribunals and go straight to federal district court, ambitious challenges to regulatory powers are rapidly gaining traction, and the high court is poised to put them on an even firmer footing.
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May 17, 2024
3rd Circ. Seeks Briefing On Wesco's Impact In 401(k) Fee Suit
The Third Circuit asked a digital services business and employees who sued the company alleging it saddled their retirement plan with excessive recordkeeping fees to explain whether the workers' bid to revive their tossed suit should be kicked to a lower court in light of a recent precedential ruling.
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May 17, 2024
Many Plans Already In Front Of 11th Circ. Trans Health Ruling
The Eleventh Circuit's recent decision that a county health plan's coverage exclusion for gender transition surgery violated federal anti-discrimination law likely won't have a big impact on plans because they have already made adjustments for the U.S. Supreme Court ruling the appeals court applied, experts say.
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May 16, 2024
Ex-Pistons Guard Denied Bail For Healthcare Scheme Appeal
A former Detroit Pistons point guard was denied bail Thursday while he appeals his conviction and 18-month prison sentence in a case where prosecutors accused ex-players of defrauding the NBA's healthcare plan.
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May 16, 2024
3rd Circ. Revives Wesco Retirees' ERISA Fee Case
The Third Circuit reinstated a proposed class action Thursday accusing Wesco Distribution Inc. of letting its employee retirement plan pay exorbitant administrative fees, ruling a trial court's "partly valid" criticisms of the suit weren't enough to warrant dismissal.
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May 16, 2024
IQVIA To Pay $3.5M To Resolve Ex-Workers' 401(k) Suit
Healthcare technology company IQVIA agreed to pay $3.5 million to end a 9,000-member class action accusing it of choosing investments that consistently underperformed and had excessive risk and expense for its $1.13 billion 401(k) plan, a filing in North Carolina federal court said.
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May 16, 2024
DOL Unveils Long-Delayed Abandoned Retirement Plan Rules
After being sidelined for more than a decade, a plan for expanding U.S. Department of Labor rules for terminating retirement plans abandoned by employers are moving forward again, the agency reported Thursday, along with a long-delayed role in the process for bankruptcy trustees.
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May 16, 2024
Citgo Retirees Win Class Cert. In Mortality Table Data Suit
An Illinois federal judge on Thursday conditionally granted class certification to Citgo retirees accusing the fuel company of shortchanging retirees by using outdated metrics to calculate early retirement payouts, but said the class definition must be narrowed further.
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May 16, 2024
Fla. Seeks To Halt Biden's ACA Trans Discrimination Rule
Florida urged a federal court to stop recently finalized regulations clarifying gender identity-based discrimination under the Affordable Care Act from taking effect, saying the new rules would force the state to abandon its health and safety laws or lose funding from the federal government.
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May 16, 2024
3 Firms Assist As AIG Sells $3.8B Corebridge Stake To Nippon
Latham & Watkins LLP is guiding Japan's Nippon Life Insurance Co. on a new deal to buy 120 million shares of Corebridge Financial Inc. common stock from AIG for $3.8 billion, with Debevoise & Plimpton LLP guiding Corebridge and Wachtell Lipton Rosen & Katz representing AIG, the purveyors of insurance products said Thursday.
Expert Analysis
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How To Protect Atty-Client Privilege While Using Generative AI
When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.
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How New Lawyers Can Leverage Feedback For Growth
Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.
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Corporate Compliance Lessons From FirstEnergy Scandal
Fallout from a massive bribery scheme involving Ohio electric utility FirstEnergy and state officeholders — including the recent sentencing of two defendants — has critical corporate governance takeaways for companies and individuals seeking to influence government policymaking, say attorneys at Wilson Sonsini.
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Asset Manager Considerations For Soliciting Calif. Pensions
With California public pension and retirement plans representing close to $1 trillion in assets, managers must understand the lobbying laws that may be applicable to soliciting investments from the state's plans, say Chelsea Childs and Catherine Skulan at Ropes & Gray.
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Twitter Legal Fees Suit Offers Crash Course In Billing Ethics
X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.
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Why It's Time To Regulate Plan Data As An Asset
With cyberattacks on the rise and the availability of artificial intelligence technology to the public, now is the time for the U.S. Department of Labor to regulate plan data as a plan asset to help protect participants from cybertheft and misuse, say attorneys at Michael Best.
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ABA's Money-Laundering Resolution Is A Balancing Act
While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.
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Law Firm Professional Development Steps To Thrive In AI Era
As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.
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Opinion
9th Circ.'s Latest UBH Ruling Ignores Case's Core Issue
The Ninth Circuit’s recent decision to vacate its earlier opinion in Wit v. United Behavioral Health frustratingly disregards the case’s key issue of benefits coverage for mental health treatment, and illogically elevates an insurer's discretionary authority over the medically necessary needs of patients, says Mark DeBofsky at DeBofsky Law.
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The Basics Of Being A Knowledge Management Attorney
Excerpt from Practical Guidance
Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.
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$735M Tesla Settlement Drives Home Lessons For Boards
As one of the largest settlements of its kind, the recent $735 million deal between Tesla and 11 nonemployee directors highlights the increased scrutiny placed on compensation practices and director independence, and provides further caution to members of boards and their compensation committees, say attorneys at Cleary.
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To Hire And Keep Top Talent, Think Beyond Compensation
Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.
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2nd Circ. Goldman Ruling May Hinder Securities Classes
The Second Circuit's recent Arkansas Teacher Retirement System v. Goldman Sachs decision, decertifying a class of investors and seemingly resolving a decadelong dispute, makes it substantially more difficult for plaintiffs to certify securities classes based on generic misstatements — a significant win for the defense bar, say attorneys at Willkie.
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Perspectives
More States Should Join Effort To Close Legal Services Gap
Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.
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Opinion
10th Circ. Remand Of ERISA Claims To Insurer Is Problematic
The Tenth Circuit recently gave the defendant another bite at the apple in David P. v. United Healthcare by remanding Employee Retirement Income Security Act claims for reprocessing, but the statute lacks any provision authorizing remands of ERISA cases, says Mark DeBofsky at DeBofsky Law.