Investors in pharmaceutical company Allergan PLC urged a New York federal judge Thursday to grant class certification in their suit alleging the company failed to properly disclose a "serious and known link" between the company's breast implants and a rare form of cancer.
A Xerox spinoff on Friday urged a New Jersey federal court to toss a class certification bid in a suit over the company's purported misrepresentations to shareholders, arguing that the proposed class representatives have "ceded control" of the case to their lawyers at Bernstein Liebhard LLP and Thornton Law Firm LLP.
A California federal judge Thursday tossed three former Intel Corp. employees' proposed Employee Retirement Income Security Act class action accusing fiduciaries overseeing the company's investment plans of funneling billions of funds into "risky" endeavors, ruling the workers failed to provide even "minimal factual support" of some allegations.
Bankrupt casual eatery chain Ruby Tuesday received court approval Friday for its plan to pay bonuses to a handful of key executives after a Delaware judge said the benchmarks for earning the extra pay provided a performance incentive.
The AARP and its charitable arm threw their support behind a former Triad Manufacturing Inc. worker's bid to keep his proposed ERISA class action in the courthouse, telling the Seventh Circuit that the arbitration clause in Triad's employee retirement plan was illegal.
Final Internal Revenue Service rules on the limitation of corporate deductions for excess executive compensation have provided clarity on the effect of changes in the 2017 tax overhaul and how compensation in excess over $1 million will be treated. Here, Law360 examines three key areas of clarity in the final rules.
A group of retired Delta Air Lines Inc. pilots has asked the D.C. Circuit for an en banc rehearing of their suit accusing the Pension Benefit Guaranty Corp. of mishandling $3 billion in retirement plan assets, saying the circuit precedent used to rule against them last month was decided in error.
Congressional legislation introduced Thursday that aims to solve the multibillion-dollar funding crisis threatening union retirees' pensions has a shot at passing this year after several administrations' worth of negotiations, experts told Law360.
The Fourth Circuit on Thursday reversed a lower court's decision in favor of the Social Security Administration's denial of disability benefits to a woman, ruling that an administrative law judge didn't follow the right legal steps in determining she could return to work.
The Ninth Circuit permitted the U.S. Department of Homeland Security to implement the so-called public charge rule on Wednesday, saying it will delay the effective date of its ruling barring the policy while the U.S. Supreme Court considers the rule's legality.
A former employee with the Massachusetts Department of Unemployment Assistance and her husband were indicted by a federal grand jury Thursday for allegedly inventing seven children and a six-figure income in order to jack up the pandemic aid they'd receive.
Behavioral health care provider Acadia Healthcare Co. Inc. and three of its current and former executives must continue to face a proposed securities class action alleging they misled investors after trading prices for the company's stock sank amid reports about understaffing and other issues at its facilities, a federal judge in Nashville said Wednesday.
A Michigan federal judge should follow a Colorado court's lead and toss a proposed 401(k) class action against Magna after the auto parts supplier's employees accused it of including too-expensive investment options into their $1 billion retirement plan, the company said.
A former Uber Technologies Inc. driver who was shot multiple times while picking up a rider has settled a lawsuit against the company that had sought $1 million, disability pay and other employee benefits, according to a filing Wednesday.
Uber, Postmates and drivers for the app companies have urged a California federal judge to uphold their challenge to the state's Assembly bills 5 and 2257, arguing that their latest complaint successfully shows that the two worker classification laws improperly deprive gig workers of their rights.
The Biden administration is considering rolling back a Trump administration rule that made it harder for pension plans and 401(k) plans to push workers' savings toward socially conscious investments, the White House indicated Wednesday in an executive order.
Mercedes-Benz allowed its U.S. employees' 401(k) plan to be overcharged for record-keeping and advisory services, depriving the plan's participants from accumulating larger balances in their retirement accounts, a proposed class action against the carmaker in Alabama federal court has alleged.
Three former Takeda Pharmaceuticals workers have hit the company with a proposed ERISA class action in Massachusetts federal court, accusing the company of including massively underperforming investment funds in its $1.8 billion employee retirement plan.
Pharmaceutical company Mylan NV told a Pennsylvania federal judge Tuesday he should toss a proposed class action alleging securities fraud because the company made "unvarnished disclosures" about its quality assurance and compliance with the U.S. Food and Drug Administration's regulations.
A proposed class of current and former Triad Manufacturing Inc. employees urged the Seventh Circuit to keep their ERISA suit in the courthouse, saying an Illinois federal judge correctly ruled that companies can't compel individual arbitration of class actions alleging benefit plan mismanagement.
A Massachusetts federal judge has ruled that the state can't block a pair of Trump administration rules expanding the religious exemption to the Affordable Care Act's contraceptive mandate, finding that the exemptions don't run afoul of the U.S. Constitution or federal statutes in light of the high court's recent Little Sisters ruling.
Investors in financial services firm Towers Watson & Co. asked a Virginia federal judge Friday to grant initial approval to a $90 million settlement deal that would end federal and Delaware Chancery lawsuits over the company's 2016 merger with risk adviser and insurance brokerage Willis Group Holdings.
A retirement fund leading a proposed class action accusing drugmaker Endo International of artificially inflating its stock price is fighting to remain as the lead plaintiff and urged a Pennsylvania federal judge Monday to reject competing bids to replace the fund.
The U.S. Department of Labor on Tuesday appointed five benefits experts with nearly 150 combined years of experience to the 2021 Advisory Council on Employee Welfare and Pension Benefit Plans, the agency said.
The COVID-19 vaccination effort led to milestones over the past week in states including Florida and Texas, which became the first in the nation to administer its millionth dose, and prompted New York to call on Pfizer for direct purchase access so the state can meet increased demand due to expanded eligibility.
The Delaware Supreme Court's recent decision granting shareholders broad inspection rights of books and records in AmerisourceBergen v. Lebanon County Employees' Retirement Fund, in line with a growing trend in the state, may narrow companies' defenses, and they should keep several considerations in mind when facing similar shareholder demands, say Jennifer Luz and John Barker at Goodwin.
Last year’s most important Employee Retirement Income Security Act securities class action developments revolved around the pleading standard for stock-drop claims, which brought a split of authority that remains unresolved, says Jeffrey Justman at Faegre Drinker.
Amid the challenges of the pandemic, a shifting digital landscape, and increasing calls for diversity and inclusion, general counsel responsibilities are expanding into six new areas, highlighting the need for both in-house and outside counsel to serve as strategic and empathetic business leaders, say Wendy King at FTI Consulting and David Horrigan at Relativity.
The Eleventh Circuit's recent decision in Pension Benefit Guaranty Corp. v. 50509 Marine, upholding a company's defined plan termination liability under the Employee Retirement Income Security Act 20 years after that business liquidated, highlights issues that owners need to consider upon company dissolution, say attorneys at Winston & Strawn.
As clients increasingly demand better efficiency, predictability and cost-effectiveness from their legal partners, especially during the pandemic, law firms and other legal service providers may need to explore new ways to bundle and deliver services — and move away from billing by time, says Joey Seeber at Level Legal.
No U.S. law firm has its shares listed on a public stock exchange unlike some lucrative overseas counterparts, but by allowing nonattorneys to become stakeholders in law firms, Arizona may have paved the way for this to change should other U.S. states — particularly New York — follow suit, says Marc Lieberman at Kutak Rock.
In this brief video, Peter Chan and Karl Egbert at Baker McKenzie, and Suzan Rose at the Alternative Investment Management Association discuss fund manager compliance and monitoring issues related to state and federal rules on campaign contributions, particularly in light of the recent election cycle.
As the Biden administration prepares to take office, financial regulators must resolve to collaborate with each other and industries to manage the financial risks from climate change after years of obstruction by the Trump administration, says New York Department of Financial Services Superintendent Linda Lacewell.
Some recent litigation developments demonstrate efforts by law firms and their clients to search for opportunities in the COVID-19 economic fallout, while others — such as the rise of contingency fee arrangements — reflect acceleration of tendencies that were already underway, says William Weisman at Therium Capital.
To comply with recently finalized Internal Revenue Service regulations implementing the Tax Cuts and Jobs Act's $1 million cap on compensation deductions, employee benefit and tax executives at public companies should understand who their covered employees are and identify compensation agreements subject to the rules, say Samuel Krause and Teresa Abney at Crowell & Moring.
In the face of rising client demands due to the pandemic and the changing regulatory environment, and with remote work continuing for the foreseeable future, lawyers should invest in their well-being by establishing inspiring yet realistic goals for 2021 — one month at a time, says Krista Larson at Morgan Lewis.
"Confidential" and other search terms commonly used to locate privileged documents during e-discovery are pretty ineffective, so practitioners should consider including specific types of keywords that are demonstrably better at targeting privilege, say Robert Keeling at Sidley and Rishi Chhatwal at AT&T.
In the context of a corporate transaction, employee benefits and compensation attorneys may need to consider the treatment of benefit plans, integration issues, the purchase agreement and agreements that extend beyond the closing, says Michelle Capezza at Epstein Becker.
Employee benefits and executive compensation attorneys must consider a spate of issues in the context of a corporate transaction, including the due diligence process and identification of plan-related liabilities, says Michelle Capezza at Epstein Becker.
Lawyers working remotely during the pandemic while physically outside the jurisdictions in which they are licensed will find some comfort in a recent American Bar Association opinion sanctioning such practice, but there is ambiguity regarding the contours of what's allowed, say attorneys at Harris Wiltshire.