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Benefits
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April 24, 2024
Investors Can't Hit Reset In 737 Max Fraud Suit, Boeing Says
Investors claiming Boeing wiped out billions in stock value by misrepresenting the 737 Max's safety shouldn't be allowed to "effectively hit the reset button" and pursue an amended complaint that relies on statements already deemed inactionable, the aerospace giant argued Wednesday.
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April 24, 2024
Solar Co. Must Pay Workers, Union Benefit Funds
A Kalamazoo, Michigan-based solar company must follow an arbitration board's order to remit unpaid wages to two workers and unpaid contributions to a group of union benefit funds, a Michigan federal judge ruled Wednesday.
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April 24, 2024
3rd Circ. Won't Let Keystone Coal Escape Black Lung Payout
The Third Circuit on Wednesday denied Keystone Coal Mining Corp.'s request to revoke benefits awarded to a miner with pneumoconiosis under the Black Lung Benefits Act, rejecting its argument that the administrative law judge hearing the case did not properly consider all the evidence.
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April 24, 2024
Boston Pension Doubles Down On Bid To Lead NYCB Suit
Boston's municipal pension plan and its attorneys from Labaton Keller Sucharow LLP stood firm on their bid to lead a proposed securities class action against New York Community Bancorp, saying their chief rival for lead status bought their shares too late and is too sketchy to be a potential plaintiff.
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April 24, 2024
Anthem Faces Class Action Over Cancer Treatment Denials
Anthem Health Plans Inc. has been hit with a proposed class action in Connecticut alleging that it routinely denies requests for proton beam radiation therapy, a cancer treatment that the complaint asserts is recognized as "established, medically appropriate, safe and effective" but which the insurer deems experimental.
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April 24, 2024
7th Circ. Revives Suit Over Paper Co.'s ESOP Valuation
The Seventh Circuit reopened a suit claiming executives at a defunct paper company and financial advisers overvalued the business to persuade workers to put retirement savings into an employee stock ownership plan, saying a lower court viewed the allegations too narrowly when it tossed the case.
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April 24, 2024
Conn. Justices Say Notice Wasn't 'Filed' Until It Was Received
The Connecticut Supreme Court has ruled that a contractor filed notice with the state Workers' Compensation Commission to contest liability for a worker's alleged injury too late — the key word being "filed," as the justices concluded the notice was not actually filed until the commission received it, rather than when it was sent.
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April 24, 2024
Nev. Can't Shake Military Bias Suit Over Pensions, DOJ Says
The federal government's suit alleging Nevada and its public employees' retirement system overcharged service members for pension credits should remain in play, the U.S. Department of Justice said, arguing it put forward enough detail showing the state's policies harm military members.
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April 24, 2024
Healthcare Co. Reaches Deal To Exit Pension Plan Suit
A healthcare company struck a deal with a class of retirement plan participants to end their suit accusing it of stacking its $500 million pension plan with costly funds and failing to keep fees low, according to a filing in Massachusetts federal court.
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April 23, 2024
Citi Says 401(k) Suit No Different From Others That Were Axed
Citigroup Inc. has urged a Connecticut federal judge to permanently toss a proposed class action brought by former employees who claim the company mismanaged their 401(k) plans, arguing that decisions made in other courts dismissing similar challenges support the suit's dismissal.
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April 23, 2024
4 Things Attys Should Know About NJ's $56B Spending Plan
New Jersey Gov. Phil Murphy has crafted a spending plan that furthers his vision of the state as an innovator in offshore wind and artificial intelligence, while drawing pushback for a proposed corporate transit fee and warehouse tax.
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April 23, 2024
Trump's Stake In Truth Social Swells An Additional $1.2B
The value of Donald Trump's stake in his newly public social media company soared by nearly $1.2 billion on Tuesday as the former president became eligible to receive bonus shares that were conditioned on the company's stock performance.
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April 23, 2024
Levi & Korsinsky To Head Combined Paycom Investor Actions
An Oklahoma federal judge selected Levi & Korsinsky LLP to lead a consolidated proposed investor class action against human resources technology company Paycom Software Inc. over the company's alleged failure to disclose that the success of its self-service payroll software was hindering the growth of the company's other services and revenue.
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April 23, 2024
GoodRx Hid Revenue Reliance On Kroger, Suit Claims
GoodRx Holdings Inc. has been hit with a proposed class action alleging it concealed from investors the indispensability of its relationship with Kroger, leading to share declines when GoodRx announced revenue would be severely impacted because the grocery chain would no longer be accepting its discount codes.
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April 23, 2024
Drugmakers Hit With RICO Suit Over Insulin Price Hikes
The world's three largest insulin manufacturers engineered an enormous increase in the price of the lifesaving diabetes medication through an "unfair and deceptive conspiracy" with household-name pharmacies, letting all involved reap extraordinary profits for 20 years, according to a lawsuit in Connecticut federal court.
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April 23, 2024
Apple Settles Labor Fight Over COVID-19 Policy At Okla. Store
An Apple Store in Oklahoma City has agreed to restore the sick time of workers who took off for COVID-19 since last August, pursuant to a recently announced settlement of an unfair labor practice charge filed by the workers' union.
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April 23, 2024
DC Circ. Backs Georgetown's Defeat Of ERISA Suit
The D.C. Circuit on Tuesday upheld Georgetown University's win in a suit claiming the school packed its employee retirement plans with costly and poorly performing investment options, finding a lower court was correct in ruling that the workers failed to fix the faults in their case.
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April 23, 2024
DOL's Final Investment Advice Regs Expand ERISA's Reach
The U.S. Department of Labor issued final regulations Tuesday broadening who qualifies as a fiduciary under the Employee Retirement Income Security Act, backing off some changes included in a proposal the agency released in October.
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April 22, 2024
Kansas Gov. Signs Earned Wage Access License Bill Into Law
Kansas has become the fourth state to approve new laws governing so-called earned wage access products, joining Nevada, Missouri and Wisconsin in regulating services for workers seeking cash advances.
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April 22, 2024
Morgan Lewis Atty Aims ERISA Suit At Firm's Plan, Unum
A Morgan Lewis & Bockius LLP lawyer has lodged an Employee Retirement Income Security Act suit against the firm's benefit plan, claiming the plan illegally and abruptly terminated her long-term disability benefits after seemingly applying criteria irrelevant to her work.
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April 22, 2024
Unions Can Refile Tossed ERISA Suit Against Anthem BCBS
A Connecticut federal judge on Monday threw out a suit against insurers Elevance Health Inc., Anthem Blue Cross Blue Shield and many of their subsidiaries, but said the trustees of two union health plans who claimed the companies were overpaying administrative and medical costs can try again.
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April 22, 2024
NY Becomes First State In US To Mandate Paid Prenatal Leave
With its budget passage Saturday, New York became the first state in the U.S. to implement paid leave for pregnant employees to attend doctors' appointments, expanding its paid sick time requirements to create a new bank of up to 20 hours for this purpose.
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April 22, 2024
NJ Man Convicted In $4.5M State Benefits Scam
A New Jersey man has been convicted for his role in a scheme that saw the theft of millions of dollars from a publicly funded Garden State program aimed to help victims of traumatic brain injuries.
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April 22, 2024
J&J Says Worker's Drug Costs Suit Misses Big Picture
Johnson & Johnson asked a New Jersey federal judge to toss a worker's suit claiming employees were overcharged for their prescriptions under a drug benefit program because of a contract with a pharmacy benefits manager, saying employees didn't show they could've gotten a better deal elsewhere.
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April 22, 2024
Catching Up With Delaware's Chancery Court
Last week, Delaware's Chancery Court news included a Tesla announcement about moving to Texas, a midcase appeal of Tripadvisor's move to Nevada, and United Airlines' escape from a stockholder suit. Disputes about board entrenchment, squeeze-out mergers, co-founder fallouts and deadly ice cream moved ahead.
Expert Analysis
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What The ESG Divide Means For Insurers And Beyond
The debate around ESG is becoming increasingly polarized, with some states passing legislation that prohibits the use of ESG factors and others advancing affirmative legislation, highlighting the importance for insurers and other companies to understand this complex legal landscape, say Scott Seaman and Bessie Daschbach at Hinshaw.
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5 Ways Firms Can Rethink Office Design In A Hybrid World
As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.
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Opinion
Bar Score Is Best Hiring Metric Post-Affirmative Action
After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.
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Cos. Must Prepare For More ESG Scrutiny From All Sides
As businesses face challenges to their environmental, social and governance efforts and statements — both from those who find them inadequate, and from those who think they go too far — it is more important than ever to proceed with care in implementing and disclosing ESG initiatives, say attorneys at Skadden.
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Recent Changes Mark A Key Moment For New York High Court
Recent developments in the New York Court of Appeals — from rapid turnover and increasing diversity, to a perception among some of growing politicization — mark an important turning point, and the court will continue to evolve in the coming year as it considers a number of important cases, say attorneys at Gibson Dunn.
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Ghosting In BigLaw: How To Come Back From Lack Of Feedback
Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.
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New NLRB Bench Book Is An Important Read For Practitioners
Though the National Labor Relations Board's Bench Book is aimed at administrative law judges who adjudicate unfair labor practice hearings, key updates in its 2023 edition offer crucial reading for anyone who handles charges before the agency, say David Pryzbylski and Thomas Payne at Barnes & Thornburg.
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Steps To Success For Senior Associates
Excerpt from Practical Guidance
Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.
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Legal Profession Must Do More For Lawyers With Disabilities
At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.
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Opinion
Appellate Funding Disclosure: No Mandate Is Right Choice
The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.
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Secure 2.0 Takeaways From DOL's 2024 Budget Proposal
The U.S. Department of Labor’s fiscal year 2024 budget proposal provides insight into the most pressing Secure 2.0 implementation issues, including establishment of a search database for finding lost retirement savings and developing guidance on the execution of newly authorized emergency savings accounts, say attorneys at Maynard Nexsen.
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How Attys Can Avoid Exposing Their Firms To Cyberattacks
Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.
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Virginia 'Rocket Docket' Slowdown Is Likely A Blip
After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.
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Managing Public Pension Plans During An Election Cycle
With the 2024 elections fast approaching, investment advisers managing public pension plan assets must consider political contributions by their personnel in order to ensure compliance with the pay-to-play rule and other statutory, regulatory and contractual requirements, say attorneys at Dechert.
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A Look At 2023's Major NLRB Developments Thus Far
Over the last six months, the National Labor Relations Board has broadened its interpretation and enforcement of the National Labor Relations Act, including increasing penalties and efforts to prohibit restrictive covenants and confidentiality agreements, say Eve Klein and Elizabeth Mincer at Duane Morris.