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TOP NEWS
Roundup
ERISA Recap: 6 Noteworthy Decisions From March
By Kellie Mejdrich
JPMorgan Chase & Co. narrowed but couldn't escape a suit from workers who said their health plan paid too much for prescription drugs, Genworth Financial Inc. unwound a class at the Fourth Circuit, and the Sixth Circuit breathed new life into proposed class actions against FedEx and Kellogg. Here, Law360 looks at these and three other notable decisions from March in ERISA cases.
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ERISA Trumps Tennessee PBM Laws, 6th Circ. Says
By Patrick Hoff
The Sixth Circuit backed a trial court's conclusion that Tennessee laws regulating pharmacy benefit managers conflict with the Employee Retirement Income Security Act, ruling the state law's requirement that "any willing provider" be accepted to PBMs' networks impermissibly dictates how the plans are designed.
Opinion attached |
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NJ Car Dealer Accused Of Picking Pricey 401(k) Funds
By Carla Baranauckas
Holman Automotive Group Inc. was slapped with a proposed class action in New Jersey federal court accusing the company and unidentified plan fiduciaries of breaching their duties under ERISA by saddling employees with unnecessarily expensive retirement plan investments that allegedly drained more than $1 million from workers' savings.
Complaint attached |
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ENFORCEMENT & COMPLIANCE
LITIGATION
Mercury Systems Investors Seek Final OK Of $32.5M Deal
By Emilie Ruscoe
Investors in aerospace and defense technology company Mercury Systems Inc. have asked a Boston federal judge to give the final nod to their $32.5 million deal to end claims the company mischaracterized certain integration processes amid a $1.4 billion acquisition spree, causing trading prices to slide as the company acknowledged financial fallout stemming from the integration woes.
Memorandum attached |
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PEOPLE
LEGAL INDUSTRY
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