"Wal-Mart Law" Struck Down In Federal Court

Law360, New York (July 19, 2006, 12:00 AM EDT) -- A judge has struck down Maryland’s controversial “Wal-Mart law,” which required companies with more than 10,000 employees to spend at least 8% of their payroll on employee health insurance.

The judge scrapped the state law after finding that it conflicted with a federal law.

Maryland’s Attorney General will appeal the ruling to the U.S Court of Appeals for the Fourth Circuit, the office said.

The law, called the Fair Share Health Care Fund Act, was aimed at Wal-Mart—one of Maryland’s largest employers.

The Retail Industry Leaders...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.