Benefits

  • 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.

  • May 06, 2024

    Salesforce Inks 11th Hour ERISA Deal With Up To 50K Workers

    Salesforce has inked an eleventh-hour settlement with a certified class of up to 50,000 employees alleging the company violated ERISA by allowing its 401(k) plan to be filled with expensive and poorly performing investment options, preempting a bench trial scheduled for Monday, a court clerk told Law360.

Expert Analysis

  • Opinion

    Appellate Funding Disclosure: No Mandate Is Right Choice

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    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.

  • Secure 2.0 Takeaways From DOL's 2024 Budget Proposal

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    The U.S. Department of Labor’s fiscal year 2024 budget proposal provides insight into the most pressing Secure 2.0 implementation issues, including establishment of a search database for finding lost retirement savings and developing guidance on the execution of newly authorized emergency savings accounts, say attorneys at Maynard Nexsen.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

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    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • Managing Public Pension Plans During An Election Cycle

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    With the 2024 elections fast approaching, investment advisers managing public pension plan assets must consider political contributions by their personnel in order to ensure compliance with the pay-to-play rule and other statutory, regulatory and contractual requirements, say attorneys at Dechert.

  • A Look At 2023's Major NLRB Developments Thus Far

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    Over the last six months, the National Labor Relations Board has broadened its interpretation and enforcement of the National Labor Relations Act, including increasing penalties and efforts to prohibit restrictive covenants and confidentiality agreements, say Eve Klein and Elizabeth Mincer at Duane Morris.

  • Chancery Reaffirms Very High Bar For Board Liability On Deal

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    The Delaware Court of Chancery's recent decision in a Block shareholder's suit over the purchase of Tidal serves as a reminder that an independent and disinterested board will not have liability unless it did not act in good faith — even when the court strongly criticizes flawed processes and the business decision, say attorneys at Fried Frank.

  • Indemnification In Exec Separation Deals: Read The Fine Print

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    The Delaware Chancery Court’s recent decision denying the former CEO of space infrastructure company Momentus the advancement of legal fees highlights the importance of considering post-employment indemnification and advancement rights in executive separation agreements, says Daniel Morgan at Blank Rome.

  • Benefits And Beyond: Fixing Employee Contribution Failures

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    Employers must address employee contribution failures promptly in order to avoid losing significant tax benefits of 401(k) or 403(b) plans, but the exact correction procedures vary depending on whether contributions were less than or greater than intended, say attorneys at Seyfarth Shaw.

  • FMLA Confusion Persists Despite New DOL Advisory

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    A recent U.S. Department of Labor advisory opinion provides some clarity regarding the Family and Medical Leave Act's handling of holiday weeks, but the FMLA remains a legal minefield that demands fact-specific analysis of each employee's unique situation, says Nicholas Schneider at Eckert Seamans.

  • 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.

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