Benefits

February 1, 2019
Ex-WaMu Execs Lose Del. Ch. 11 Fight For Pay Incentives

Citing a federal agency prohibition, a Delaware bankruptcy judge on Friday rejected long-dangling golden parachute, incentive pay and related claims filed by former executives of long-shuttered Washington Mutual Inc., freeing what had been a $66 million estate settlement reserve.
February 1, 2019
Trump's ACA Hatred Isn't Basis To Sue, Judge Rules

A Maryland federal judge on Friday tossed the state’s lawsuit aimed at guaranteeing continued enforcement of the Affordable Care Act, saying that President Donald Trump’s “profound disdain” for the ACA doesn’t mean he’s about to halt the law’s operations.
February 1, 2019
ESL Says $5.2B Ch. 11 Sale Only Way Forward For Sears

ESL Investments Inc. urged a New York bankruptcy court Friday to reject objections by Sears Holding Corp.'s unsecured creditors committee to the proposed $5.2 billion sale of the company to ESL, saying it is a fair deal and will revive the retail giant.
February 1, 2019
PBGC Sues Sears To Take Over Struggling Pension Plans

The Pension Benefit Guaranty Corporation on Friday urged an Illinois federal judge to terminate two Sears Holdings Corp. pension plans estimated to be underfunded by $1.4 billion so that the agency could take over the assets and obligations of the plans.
February 1, 2019
Eye On ERISA: Q&A With Goodwin Procter's James Fleckner

James Fleckner, the chair of Goodwin Procter LLP’s ERISA litigation practice, is currently riding high off a big win for his client American Century Companies Inc., for whom the firm recently secured dismissal of an Employee Retirement Income Security Act class action concerning proprietary funds in 401(k) plans.
February 1, 2019
Ice Miller Nabs Employee Benefits Pro From Thompson Hine

Ice Miller LLP has lured a former Thompson Hine LLP partner who has years of experience working on employee benefits, executive compensation and health care law to its office in Chicago.
January 31, 2019
BofA Workers Urge High Court To Resolve $3B Deal Dispute

A class of Bank of America employees has urged the U.S. Supreme Court to review a dispute stemming from a $3 billion transfer of workers’ retirement assets in 1998, asking the high court to disregard a lower court’s finding that the bank did not profit from the transfer.
January 31, 2019
Anthem Unit Denied Quick Win In ERISA Suit Over 401(k) Plan

An Anthem Inc. subsidiary lost its bid in Indiana federal court for a quick win in an Employee Retirement Income Security Act class action alleging that the company let its 401(k) plan pay excessive fees and offered plan participants a lousy investment option.
January 31, 2019
1st Circ. Revives Fraud Claims In Lexapro, Celexa MDL

The First Circuit gave a mother and a health and benefit fund another shot at bringing fraud claims in lengthy multidistrict litigation alleging Forest Laboratories Inc. illegally marketed the antidepressants Celexa and Lexapro for use in children.
January 31, 2019
Deals Rumor Mill: Brookfield, Elliott, ConocoPhillips

Brookfield Asset Management is reportedly eyeing Royal KPN NV, Elliott Management Corp. is making moves to take over companies instead of its usual shareholder activism, and ConocoPhillips has walked away from talks to sell North Sea assets to Ineos.
January 31, 2019
Puerto Rico Pension Bondholders Have Valid Liens: 1st Circ.

The First Circuit has ruled holders of bonds issued by Puerto Rico's public pension fund have valid liens on employer contributions, saying the collateral was described in enough detail in financing statements for the bondholders to make the claim.
January 31, 2019
2nd Circ. Shouldn't Wait For High Court, IBM Workers Say

A proposed class of IBM workers urged the Second Circuit not to delay the revival of their Employee Retirement Income Security Act suit accusing the company of investing their retirement savings in overpriced proprietary stock, saying the U.S. Supreme Court was unlikely to review the case.
January 31, 2019
Horizon, NJ Surgery Center Settle Benefits Formula Row

Horizon Blue Cross Blue Shield of New Jersey has settled a federal suit from an ambulatory surgical center that accused the insurer of flouting the Employee Retirement Income Security Act by using an improper formula to calculate reimbursements for certain benefit claims.
January 31, 2019
The Laterals Audit: Tax Attorney Moves In January

In the January edition of the Laterals Audit, a former Perkins Coie LLP tax attorney joins Baker Botts LLP’s San Francisco office, a former Norton Rose Fulbright partner joins KPMG’s tax disputes team, and two real estate investment trust lawyers from Hogan Lovells LLP join Fried Frank Harris Shriver & Jacobson LLP.
January 30, 2019
Synergy Execs Get Incentive Pay If Ch. 11 Sale Reaches $214M

A New York bankruptcy judge on Wednesday authorized Synergy Pharmaceuticals Inc. to implement an incentive program that would reward five top executives with up to nearly $2.7 million in bonuses if they successfully push a company purchase price to levels higher than its current $200 million stalking horse bid.
January 30, 2019
Holland & Knight Nabs ERISA Pro From Morgan Lewis

Holland & Knight LLP has expanded its bench in Philadelphia with an Employee Retirement Income Security Act-focused partner who has come over from Morgan Lewis & Bockius LLP.
January 30, 2019
Dems Reintroduce Bill To Help Combat Gender Pay Gap

Democratic legislators on Wednesday reintroduced a bill they say will help women fight the gender pay gap by, among other things, ending pay secrecy and making it easier for workers to challenge pay discrimination.
January 30, 2019
7th Circ. Says Construction Cos. Can't Duck Pension Payment

The Seventh Circuit said a group of construction-related companies and their owners cannot escape a $641,000 payment required for withdrawing from a union pension fund, finding that there was no violation of due process during the fund's collection efforts.
January 30, 2019
Tribe's Overcharging Claims Fail, Mich. Blue Cross Says

Blue Cross Blue Shield of Michigan has urged a federal court to end litigation accusing the insurer of overcharging a tribe for member and employee hospital visits by failing to take advantage of federal regulations that allow tribes to pay reduced rates, saying one claim is time-barred and the others don’t hold up.
January 30, 2019
Dockworkers Try To Save $4.1M ERISA Suit After Arbitrations

A group of dockworkers on Tuesday fought to keep alive accusations they made against a self-insured health plan in their Employee Retirement Income Security Act suit over $4.1 million in unpaid health care claims, questioning the reliability of arbitrations some of the workers went through.

Expert Analysis

Top 10 Employer Resolutions For 2019

As 2019 begins, many companies await answers to several pending employment law questions. Allegra Lawrence-Hardy and Bonnie Burke of Lawrence & Bundy LLC review the most pertinent issues employers should watch this year.
Q&A

A Chat With Reed Smith Chief Marketing Officer Sadie Baron

In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Sadie Baron, chief marketing officer at Reed Smith LLP.
The Evolving Frontier Of Foreign Securities Litigation

Several recent developments — including a petition for certiorari filed with the U.S. Supreme Court in Toshiba v. Automotive Industries Pension Trust Fund — highlight why foreign securities litigation is an ever-changing scenario where nothing is definite, say Joel Rothman and Peter Saparoff of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
'Flexible Work' Makes Freelancing More Viable In BigLaw

The rise of remote work capabilities and advances in technology are making flexible, freelance legal work a more accessible career option for corporate attorneys, say Elizabeth Black and Sara Eng of InCloudCounsel.
Opinion

A Call To Permit Judicial Substitution In MDL Proceedings

While several proposed changes to multidistrict litigation procedures may be warranted and appropriate, consideration should be given to a modest modification of the judicial selection process, says Doug Smith of Kirkland & Ellis LLP.
Guest Feature

Judge Weinstein On Activism, Gobbledegook, Going Robeless

Judge Jack Weinstein has served in the Eastern District of New York for over half a century. White and Williams LLP attorney Randy Maniloff visited his Brooklyn office to find out what makes the 97-year-old jurist tick.
What To Expect From Technology-Assisted Review In 2019

2018 will be remembered as a transition year for technology-assisted review, and 2019 will likely see a continued focus on how we use TAR, with refinement and expansion across the board, says Thomas Gricks of Catalyst Repository Systems LLC.
Is Texas V. US Taxing For Obamacare?

Following a Texas federal judge's recent opinion that the Affordable Care Act is rendered unconstitutional by the Tax Cuts and Jobs Act of 2017, Andrew Oringer of Dechert LLP reviews some history leading up to the decision and explores how the issues should be analyzed.
2019 Will Bring More Good News For Litigation Finance

Last year saw another round of year-over-year growth in litigation finance, as debates shifted from whether it should be permitted to how it can best be managed. The exciting news, says Alan Guy of Vannin Capital PCC, is that 2019 seems likely to bring more of the same.
Why More Law Firms Will Embrace Remote Work In 2019

Leveraging technology in a fiercely competitive market is a key factor driving law firms toward technology adoption in 2019, as they face growing demand from legal talent and clients for the ability to connect, access and control information whenever and wherever needed, says Tomas Suros of tech provider AbacusNext.

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