Maine-based Wex will snap up employee benefits administrator Discovery Benefits for $425 million as the payments and technology company looks to bolster its offerings to customers, according to a Thursday statement.
PPG Industries Inc. will pay a class of retirees $7.65 million and ensure them health benefits through 2025 to settle allegations that the paint and chemical company wrongly cut off promised lifetime health benefits, the retirees told an Ohio federal court Thursday.
Medical providers in New Jersey are not bound by the two-year statute of limitations covering employees in workers' compensation cases but instead have six years to bring their related claims, a state appeals court said Thursday, addressing a legislative amendment that gave the Division of Workers' Compensation jurisdiction over those claims.
Former CBS chief Les Moonves is taking the network to arbitration over its denial of a $120 million exit package following his ouster last year over alleged sexual harassment in the workplace, according to a financial disclosure CBS filed Wednesday.
The First Circuit upheld a district court ruling that Scottsdale Insurance Co. must pay $3 million to a Rhode Island plumbers pension fund to satisfy a ruling against a real estate investment fund insured by Scottsdale for allegedly mismanaging the pension fund's investments, saying Wednesday that exclusions in the company's policy do not exempt it from coverage.
King & Spalding LLP and a former attorney suing the firm for wrongful termination traded blows Wednesday in a flurry of filings seeking to discredit each other's expert witnesses, with King & Spalding saying one expert's estimate that the attorney suffered $21 million to $49 million in damages was not backed up by evidence.
A Missouri federal judge granted preliminary approval on Thursday to a $60 million deal to resolve a proposed class action claiming SSM Health Care Corp. misused an Employee Retirement Income Security Act exemption intended for churches and their affiliates.
A class of participants in a Duke University retirement plan asked a North Carolina federal judge to greenlight a $10.65 million settlement resolving Employee Retirement Income Security Act claims against the school, telling the court that the agreement provides significant relief beyond money.
Saying it was unable to get the benefits concessions it needs under its postpetition financing arrangement, Westmoreland Coal told a Texas bankruptcy judge Wednesday it plans to ask permission to reject its contracts with the United Mine Workers of America.
An investor filed a derivative lawsuit against Salesforce.com Inc. in Delaware Chancery Court on Tuesday claiming the nonemployee directors for the cloud-based software company are paid excessive salaries that stockholders did not properly sign off on.
EmblemHealth Inc. was allowed to change the medical benefits provided to its retired executives without violating the Employee Retirement Income Security Act, as there was no explicit promise to vest those benefits, a New York federal judge ruled Tuesday.
Morningstar Investment Management LLC and two Prudential Financial Inc. retirement-focused subsidiaries won’t have to face allegations that they illegally colluded to profit from a robo-adviser program after an Illinois federal judge ruled Wednesday that the plan participant leading the suit failed to show they violated the Racketeer Influenced and Corrupt Organizations Act.
Action by Congress would be needed to subject public universities and their top sports coaches to a new excise tax on top earners at nonprofits after recent guidance confirmed the tax may not apply to some of those institutions.
A New York federal judge on Tuesday tossed a proposed class action accusing MetLife Inc. and Metropolitan Life Insurance Co. of pocketing the interest on $500 million in overdue retirement benefits, saying the proposed class of retirees improperly repackaged a contract dispute as an unjust enrichment claim.
The University of Southern California told the U.S. Supreme Court that the court should review the Ninth Circuit’s finding that its employees couldn’t be compelled to arbitrate their Employee Retirement Income Security Act claims, arguing that the workers wrongly characterized the decision as a “mundane interpretation of contractual language.”
Morrison & Foerster LLP has hired two former Davis Polk & Wardwell LLP attorneys in New York to bolster its executive compensation team — one with experience in federal tax and securities law and the other in transactional work.
Former NFL defensive lineman Darren Mickell’s yearslong suit against the league’s retirement plan hit a brick wall on Tuesday, after a Florida federal court denied his bid to overturn the plan’s decision that he didn’t qualify for certain disability benefits.
A group of participants in Yale University's employee retirement plan asked a Connecticut federal judge for class certification in their Employee Retirement Income Security Act suit accusing the Ivy League school of costing workers millions of dollars by funneling their retirement funds into bad investments.
The Bank of New York Mellon has agreed to pay $72.5 million to resolve claims that it overcharged American depositary receipt holders for the conversion of foreign currency dividends to U.S. dollars, according to investors who asked a New York federal judge on Tuesday for preliminary approval of the settlement.
Automated data management software maker Veeam Software will receive a $500 million investment from tech-focused venture and private equity firm Insight Venture Partners and the Canada Pension Plan Investment Board in a deal guided by Willkie Farr & Gallagher LLP, the companies said Wednesday.
The lack of minority partners comes at a high cost to firms, say attorneys at Lightfoot Franklin & White LLC, as they suggest several practical ways to tackle this problem.
In the final installment of their four-part series, attorneys with Skadden Arps Slate Meagher & Flom LLP focus on corporate governance best practices such as disclosures related to board evaluations and virtual shareholder meetings; the status of Dodd-Frank and other U.S. Securities and Exchange Commission rule-making matters; and considerations in assessing social media policies.
In the third installment of their four-part series, attorneys with Skadden Arps Slate Meagher & Flom LLP consider corporate governance best practices including environmental, social and governance reporting, updates to director and officer questionnaires, board diversity and related disclosures, and shareholder proposals.
Alternative dispute resolution providers have made great strides toward diversity, but recent statistics show there is still work to be done. There are certain steps ADR providers can take to actively recruit more women and minority candidates to serve as arbitrators and mediators, says James Jenkins of the American Arbitration Association.
Alternative fee agreements can help align law firm and client interests, increase efficiency and eliminate corporate extortion, among other benefits. They are the best thing to happen to the practice of law in decades, says Kelly Eisenlohr-Moul at Dinsmore & Shohl LLP.
In this installment of their four-part series, attorneys at Skadden Arps Slate Meagher & Flom LLP offer insights to companies on executive compensation matters for 2019 — including pay ratio and hedging disclosures, say-on-pay votes and changes in pay practices due to the Tax Cuts and Jobs Act.
Each company faces important decisions in preparing for its 2019 annual meeting and reporting season. This four-part series by attorneys at Skadden Arps Slate Meagher & Flom LLP covers essential items on which companies should focus, including corporate governance, executive compensation and disclosure matters.
Can lawyers lead a revolution? According to "The Clamor of Lawyers: The American Revolution and Crisis in the Legal Profession" — a slim but elegant volume by Peter Charles Hoffer and Williamjames Hull Hoffer — they can and they did, says First Circuit Judge David Barron.
Lawyer-directed nonrecourse litigation funding is more likely to protect a lawyer's exercise of independent professional judgment than traditional means of litigation finance, and furthermore enables worthwhile cases that otherwise could not be funded, say Peter Jarvis and Trisha Thompson of Holland & Knight LLP.
A California federal court's decision in Axis v. Northrop reminds insureds to consider excess insurers' coverage positions when negotiating coverage with lower-level insurers. Insureds should also be wary of settlements that could be construed as disgorgement of ill-gotten assets, say Caroline Meneau and David Kroeger of Jenner & Block LLP.