SEI To Pay $2.75M In Suit Over Proprietary 401(k) Funds

By Grace Elletson

SEI Investments Co. has agreed to pay $2.75 million to resolve a suit claiming it loaded its retirement plan with underperforming proprietary investment funds to collect fees while workers lost millions in savings, according to a Pennsylvania federal court filing.

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Groups Urge Justices To Take Up Capital Group ERISA Fight

By Kellie Mejdrich

Several employee benefits trade groups urged the U.S. Supreme Court Monday to review a Ninth Circuit ruling that refused to force arbitration of a retirement plan dispute against an investment management company, arguing the case could resolve a circuit split on the scope of relief under federal benefits law.

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Healthcare Co. To Pay $2.6M In Retirement Plan Fee Suit

By Grace Elletson

A healthcare system has agreed to pay $2.6 million to resolve a suit claiming it lets its retirement plans get bogged down by excessive and unnecessary fees, according to a New York federal court filing.

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BlackRock, State Street Get State AG Coal Suit Trimmed

By Sarah Jarvis

BlackRock and State Street have pared down a lawsuit by Republican state attorneys general accusing them of driving up coal prices, but a Texas federal judge let stand claims brought by Iowa and Nebraska on behalf of their resident electricity consumers.

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Teamsters' International Union Must Face Worker's Pay Suit

By MJ Koo

An Oklahoma federal judge on Monday ruled that the Teamsters' international union must face a former office worker's lawsuit seeking unpaid overtime and severance, saying she had presented enough evidence to suggest the union was responsible for decisions about her termination and pay.

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HHS Says Wash. Has No Stake In Noncitizen Medicaid Fight

By Rachel Riley

The U.S. Department of Health and Human Services is fighting Washington state's bid to join a legal challenge to the Trump administration's attempts to withdraw federal Medicaid funding for certain noncitizens receiving supplemental security income, arguing Friday the state has pointed to "speculative downstream effects" of the targeted policy.

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Judge Gives Final OK To Mortgage Insurer's ERISA Deal

By Hope Patti

A North Carolina federal court Monday gave final approval to an up to $650,000 deal settling a class action claiming that a mortgage insurance company mismanaged an employee retirement profit sharing plan.

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Airport Cleaning Co. Seeks To Trim SEIU Pension Suit

By Benjamin Morse

An airport cleaning subcontractor did not agree to pay supplemental retirement contributions and cannot be held liable for payments predating its labor agreement, the company told a D.C. federal court in its bid to trim a suit lodged by a pension fund.

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BigLaw Attys Step Up To Help Voters In Midterm Elections

By Jack Karp and Lynn LaRowe

Attorneys from several BigLaw firms are volunteering across the country to make sure voters don't run into problems casting their ballots or having those ballots counted in Tuesday's midterm elections.

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Brief

Winston Taylor, DLA Piper Match Milbank Pay Scale

By Tracey Read

Two more BigLaw firms have opted to match the new associate salary scale set by Milbank LLP in June.

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Analysis

Judiciary Stuck In AI Rulemaking Rut As Attys, Judges Protest

By Jeff Overley

Judiciary efforts to enact rules for the artificial intelligence age are mired in concerns about burdens on litigators, the tensions between burgeoning technology and snail-paced policymaking, and how to even define AI. And despite vivid examples of AI's risks, officials are inching toward mothballing the prominent project.

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Judge Orders Chicago US Atty To Testify In Misconduct Probe

By Celeste Bott

An Illinois federal judge has ordered Chicago's top federal prosecutor and three assistant U.S. attorneys to testify under oath about potentially false statements made to her in a now-dismissed criminal conspiracy case against anti-ICE protesters, saying Monday that the government's shifting explanations about communications with DOJ leadership suggest prosecutors misled the court about outside involvement in the prosecution.

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NY State Bar Says Attys Can't Bill Time Saved By AI

By Andrea Keckley

The New York State Bar Association has told lawyers not to bill clients for the time they saved by using artificial intelligence, or for the time it took to learn a new AI tool.

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Interview

SEC's Top Cop On Building A 'Nimble' Enforcement Division

By Jessica Corso

The U.S. Securities and Exchange Commission has lost hundreds of enforcement employees and seen significant restructuring of its regional offices over the past two years, but the Division of Enforcement's director said that hasn't stopped him from building a "nimble" program that is focused on more than just the number of cases filed.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court last week allowed a stockholder claim over R1 RCM Inc.'s $8.9 billion buyout to proceed, while investors in Meta Platforms Inc. sued to block a stock restructuring they say would let CEO Mark Zuckerberg sell billions of dollars in shares without giving up control of the company.

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Monthly Merger Review Snapshot

By Matthew Perlman

The Federal Trade Commission caused a pair of playground equipment makers to abandon their planned merger, Canadian enforcers upended a deal for the Green Giant brand in the country and state attorneys general reached settlements for several regional deals.

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