Benefits

  • January 22, 2021

    New Lead Plaintiff Seeks Cert. In Allergan Investor Action

    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.

  • January 22, 2021

    Xerox Spinoff Fights Cert. Of 'Lawyer-Driven' Investor Suit

    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.

  • January 22, 2021

    Intel's Retirement Plan Leaders Win Trim Of ERISA Claims

    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.

  • January 22, 2021

    Ruby Tuesday Approved For Ch. 11 Executive Bonus Plans

    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.

  • January 22, 2021

    AARP Backs 7th Circ. Bid To Keep ERISA Suit In Court

    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.

  • January 22, 2021

    3 Key Provisions In The Final Executive Pay Cap Rules

    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.

  • January 22, 2021

    Delta Pilots Want Full DC Circ. To Rehear $3B Pension Case

    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.

  • January 21, 2021

    Legislative Fixes For Union Pension Crisis Within Reach

    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.

  • January 21, 2021

    4th Circ. Says Woman Was Illegally Denied Disability Benefits

    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.

  • January 21, 2021

    9th Circ. Delays Public Charge Ruling As Justices Mull Case

    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.

  • January 21, 2021

    Unemployment Worker Indicted On Virus Aid Fraud Charges

    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.

  • January 21, 2021

    Acadia's 'Quality Care' Claim For Jury To Decide, Judge Says

    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.

  • January 21, 2021

    Auto Parts Co. Wants $1B ERISA Suit Axed After Colo. Ruling

    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.

  • January 21, 2021

    Uber Settles Benefits Suit With Driver Who Was Shot In Head

    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.

  • January 20, 2021

    Uber And Postmates Fight Calif.'s Bid To Nix AB 5 Challenge

    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.

  • January 20, 2021

    Biden DOL May Ax Socially Conscious 401(k) Investing Hurdle

    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.

  • January 20, 2021

    Mercedes Dropped Ball On Monitoring 401(k) Costs, Suit Says

    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.

  • January 20, 2021

    Takeda Pharmaceuticals Sued Over $1.8B Retirement Plan

    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.

  • January 20, 2021

    Mylan Wants Out Of Investor Suit Over FDA Inspections

    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.

  • January 20, 2021

    Workers Ask 7th Circ. To Keep ERISA Suit In Court

    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.

  • January 19, 2021

    Feds Near Win In Mass. ACA Birth Control Coverage Suit

    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.

  • January 19, 2021

    Willis Towers Watson To Settle Merger Claims For $90M

    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.

  • January 19, 2021

    Lead Plaintiff In Endo Investors' Suit Slams Other Bids

    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.

  • January 19, 2021

    DOL Names 5 New ERISA Advisory Council Members

    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.

  • January 19, 2021

    Coronavirus Regulations: A State-By-State Week In Review

    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.

Expert Analysis

  • Del. Books And Records Ruling Offers 4 Lessons For Cos.

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    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.

  • Top 5 ERISA Stock-Drop Case Developments From 2020

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    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.

  • Law Firms Should Note GCs' Growing Focus On Biz Strategies

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    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.

  • Liquidation Lessons From 11th Circ. Pension Plan Ruling

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    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.

  • 6 Changes The Legal Industry Should Prepare For

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    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.

  • Arizona May Have Nudged US Law Firms Toward Future IPOs

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    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.

  • How Fund Managers Can Avoid Political Contribution Missteps

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    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.

  • Opinion

    6 Ways Financial Regulators Should Prioritize Climate Risk

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    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.

  • 4 Legal Industry Trends Litigation Financiers Are Watching

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    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.

  • 4 Steps For Public Cos. Subject To New Executive Pay Rules

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    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.

  • A Lawyer's Guide To Setting Well-Being Goals In 2021

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    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.

  • Keyword Searches To Improve Your Privilege Doc Review

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    "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.

  • A Benefits Attorney's Role In Corporate Transactions: Part 2

    Excerpt from Practical Guidance
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    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.

  • A Benefits Attorney's Role In Corporate Transactions: Part 1

    Excerpt from Practical Guidance
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    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.

  • ABA Approves Remote Practice, But Questions Remain

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    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.

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