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.
A Pennsylvania appeals panel on Thursday affirmed the state Workers’ Compensation Appeal Board's dismissal of a claim filed by an electrical worker injured in a motor vehicle accident driving to work, finding that he was not a “traveling employee” as he had contended and was off the clock when he was hurt.
The attorneys general of California, New York and Oregon showed on Wednesday that they aren't ready to give up the fight to save the U.S. Department of Labor's fiduciary rule, asking the full Fifth Circuit for permission to intervene in the case after a three-judge panel wouldn't let them.
Aetna urged a Pennsylvania federal court Wednesday to toss certain claims from a Florida sleep center’s proposed class action alleging the insurer was not paying enough for out-of-network claims, arguing that some of the allegations are unsupported and redundant.
The director of a government-run insurance fund that pays workers’ retirement benefits when their employers’ pension funds tank told a group of lawmakers on Thursday that multiemployer plans will need to start paying about five times more in premiums to save the fund from insolvency.
In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Toby Brown, chief practice management officer at Perkins Coie LLP.
Cigna Health and Life Insurance Co. doesn't have to face an Employee Retirement Income Security Act suit from a New Jersey podiatry group alleging that the insurer shortchanged it on medical claims, after a New Jersey federal judge ruled on Wednesday that the medical provider didn't plead enough specifics to support its case.
Delaware’s chancellor incorrectly relied on “self-dealing” liability releases that Viacom Inc.’s directors awarded themselves when he tossed a derivative suit challenging $13 million in compensation paid to the media company’s ailing former chairman, a class attorney said during appeal arguments on Wednesday.
The Third Circuit on Wednesday joined some of its sister circuits in holding that health insurance plan clauses barring the assignment of claims to third parties, including the provider of the underlying care, are enforceable in Employee Retirement Income Security Act-governed plans.
A federal judge on Wednesday grilled a DLA Piper partner during closing arguments in an Employee Retirement Income Security Act class action accusing New York University of mismanaging workers' retirement savings, repeatedly interrupting the attorney to question whether NYU's retirement committee members knew enough to oversee the school's two multibillion-dollar plans.
The latest tax dispute to hit the U.S. Supreme Court dockets may be narrowly limited to the rail industry, but the possibility of an IRS regulation being struck down could open a can of worms on what kinds of employee compensation can be taxed.
Metropolitan Life Insurance Co. owes benefits to a man and his wife for the amputation of the former's leg resulting from a car accident, the Ninth Circuit ruled Wednesday, finding that the fact that his diabetes may have contributed to him needing the procedure didn’t preclude coverage as the lower court said.
The leader of a nonprofit filed a brief Tuesday asking the Tenth Circuit to reverse a U.S. Tax Court ruling that she owes almost $90,000 after using the nonprofit's checks for cash and personal items from 2010 to 2012.
A former Franklin Templeton employee asked a California federal court on Tuesday to certify her proposed class of more than 5,000 members over allegations the company's 401(k) plan was mismanaged and full of poorly performing in-house mutual funds.
Investors in the Bank of New York Mellon urged a New York federal court on Tuesday to certify their class of American depositary receipt holders who were allegedly overcharged during the bank’s conversion of foreign-currency dividends to U.S. dollars.
California-based women's apparel brand Lulus has scored a $120 million investment from venture capital and growth equity firm IVP and global investment manager Canada Pension Plan Investment Board, the company said Wednesday.
U.S. companies venturing into the world of global equity compensation confront a complex, cross-border web of rules and regulations. Victoria Ha and William Woolston of Covington & Burling LLP highlight five critical questions that can help U.S. companies navigate common legal pitfalls, with a focus on some of the most rapidly evolving areas of law.
Workers in the gig economy are currently not entitled to enjoy a traditional employer-based retirement plan because such plans are subject to stringent rules and only permitted to cover employees, not independent contractors. However, Congress is attempting to address this issue via the recently reintroduced Retirement Enhancement and Savings Act, says Brett Owens of Fisher Phillips.
In Vellali v. Yale University, the U.S. District Court for the District of Connecticut recently granted in part and denied in part a motion to dismiss a lawsuit against Yale’s 403(b) plan fiduciaries. Arthur Marrapese of Barclay Damon LLP compares this to decisions in other similar cases, and offers insight on the future of these kinds of claims in the Second Circuit.
On May 17, 1954, the U.S. Supreme Court decided Brown v. Board of Education, recognizing a moral and legal truth that should be beyond question in American society. The refusal by some of President Donald Trump's judicial nominees to say whether they believe the case was decided correctly is indicative of the narrow-minded elitism they would bring to the bench, says professor Franita Tolson of the University of Southern California's Gould School of Law.
In deciding whether cloud computing is right for the organization or firm, an attorney must consider cloud computing’s significant impact on the electronic discovery process, say Daniel Garrie, managing partner at Law & Forensics LLC, and David Cass, chief information security officer at IBM Cloud.
In these politically divisive times, many ask whether our institutions and traditions can help us return to a greater consensus. In days long past, the legal profession could have been counted on to serve just such a function. But lawyers are now just as polarized as everyone else, says Samuel Samaro of Pashman Stein Walder Hayden PC.
After moving into a new law office, tenants often file their signed leases away, figuring that the terms are set for a few years at least. However, leases can be very flexible instruments, and should be reviewed annually even if nothing seems amiss, says Tiffany Winne of Savills Studley Inc.
As Mother's Day approaches and more initiatives in the U.S. and around the world are aimed at increasing opportunities at work for working mothers (and caregivers more generally), attorneys with Baker McKenzie discuss recent benefits made available to these employees and review updates multinational employers need to know.
Based on his experience as a BigLaw associate for six years and now as general counsel for a tech startup, Jason Idilbi of Passport Labs offers some best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.
The U.S. Securities and Exchange Commission's proposed best-interest requirement for broker-dealers would likely discourage the offering of “full-service” brokerage and encourage alternatives, such as “discount” brokerage and fee-based advisory accounts, says Steven Lofchie of Cadwalader Wickersham & Taft LLP.