Benefits Law360 provides breaking news and analysis on employee benefits and executive compensation law. Coverage includes benefits-related litigation — including Employee Retirement Income Security Act suits and tax and compliance issues over executive compensation — as well as legislative and regulatory activity.
The University of Southern California and workers who brought a $150 million proposed class action claiming the school mismanaged their retirement savings recently squared off before the Ninth Circuit, crossing swords before a three-judge panel over whether the plan participants' claims should be kicked from federal court into arbitration. Here, Law360 breaks down the oral arguments from the closely watched case.
The Delaware Supreme Court upheld the dismissal Friday of a shareholder derivative suit that accused the directors of Viacom Inc. of engaging in self-dealing by awarding unearned compensation to ailing board member Sumner Redstone despite his lack of involvement with the company.
The former owners of a substance abuse treatment center in Florida were sentenced to prison and ordered to pay $4 million for a scheme that defrauded health care programs through false claims and kickbacks, the U.S. Department of Labor’s Employee Benefits Security Administration announced Thursday.
A suit alleging that Miami-based home builder Lennar created and bankrupted a development company in order to swindle $970 million from the California Public Employees' Retirement System belongs in a Delaware bankruptcy court, the builder said Thursday.
The agency tasked with collecting taxes in Denmark filed three suits in Massachusetts federal court on Friday claiming Bay State-based pension plans were part of a massive multinational fraud scheme to dupe the Danish government out of $2.1 billion in reimbursed taxes.