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.
A U.S. Supreme Court case that could have resolved a circuit split over where the burden of proof falls in Employee Retirement Income Security Act fiduciary-breach cases ended Thursday, with the high court tossing a suit between Alerus Financial NA and an employee stock-ownership program after the parties settled.
The last week has seen a London no dealing desk sue Merrill Lynch for breach of fiduciary duty, more competition claims against Visa and MasterCard and a German shipper bring a suit against Axa and other insurers.
A Minnesota federal judge has refused to let HealthPartners Inc. and Essentia Health escape claims from the transgender son of a former Essentia nurse practitioner over a health plan he alleged excluded gender transition-related health services, but let the companies out of the mother’s claim.
OSF HealthCare System urged an Illinois federal judge to toss a proposed class action accusing it of failing to properly fund its retirement plans while wrongly claiming a religious exemption in the Employee Retirement Income Security Act, arguing that the participants bringing the suit didn’t “meaningfully address” a relevant Tenth Circuit ruling.
A Delaware Chancery Court judge expressed confusion Friday over the nature of a settlement proposed among a shareholder of Goldman Sachs Group Inc. and the company's directors, saying the deal didn't make sense and didn't offer a balanced result because the board members weren't giving up the stock awards at the center of the excessive compensation complaint.