Quality Systems Inc. agreed to pay $19 million to settle a proposed securities class action alleging the health technology company misled investors about its projected sales and financial performance in 2011 and 2012, ending the suit Monday after five years of fighting in California federal court.
The Ninth Circuit on Tuesday reversed and remanded a California federal court ruling tossing a proposed investor class action alleging securities law violations based on Toshiba Corp.’s fraudulent accounting practices.
Lilis Energy Inc. filed a suit in the Supreme Court of New York on Tuesday to claw back benefits from its former chief operating officer, alleging that the executive purposefully hid from the company his personal financial interest in two of its vendors.
A disbarred Pennsylvania attorney is still fighting in the Third Circuit to contest a district court’s disposal of a trust he used to divert employee life insurance plan assets for personal use, arguing the court could not bar him from controlling the trust or its assets.
Democratic attorneys general asked a California federal judge to pause or end their lawsuit attempting to block the Trump administration from cutting billions in Affordable Care Act subsidies, noting that workarounds to the cuts are in place in many states while insisting future action may be needed.
A shareholder of Goldman Sachs Group Inc. defended a proposed settlement of her derivative suit against the company’s directors Tuesday, saying the deal provides significant value to the company and its investors despite opposition from another shareholder.
The D.C. Circuit held Tuesday that a former aerospace and defense executive cannot be denied deferred-compensation benefits after getting fired for turning down a job change because he wasn’t refusing to perform work duties by rejecting the job offer, so his termination can’t be classified as “for cause.”
A California federal judge on Monday certified a class of investors accusing Twitter Inc. of overstating user engagement and ultimately causing shares to fall almost 15 percent in one day.
Jackson Lewis PC has nabbed The Hershey Co.'s in-house labor and employment counsel for its disability, leave and health management practice group, adding a principal with roughly two decades of experience helping companies craft and administer leave policies to the firm's Atlanta office.
The bakery behind brands such as Wonder Bread and Nature’s Own defeated its product distributors’ claim that they were wrongly excluded from the company’s 401(k) plan, after a Georgia federal judge ruled that the distributors didn’t show that they were employees entitled to benefits under the plan’s terms.
The nation’s safety net for struggling pension plans issued a proposed rule Monday that would allow smaller multiemployer plans terminated by mass withdrawal of participating employers to evaluate and report on their asset levels less frequently, while adding withdrawal liability reporting requirements for those plans and several other types.
A federal judge on Friday rebuffed the U.S. government by forcing it to face a lawsuit brought by a group of investors with billions at stake in diverted Puerto Rico public pension contributions, saying the bondholders have a valid constitutional claim against a federal entity.
California's state-backed workers' compensation insurer Friday asked the Ninth Circuit to find it does not have to cover a porn studio for claims by actors who said they contracted HIV while on set, saying the claims are excluded by both state law and the policy terms.
If D.C. Circuit Judge Brett Kavanaugh joins the U.S. Supreme Court, he could be a pivotal vote in a major Affordable Care Act case, but his apparent views on the case’s central legal question make him far from a sure bet to rule against the law.
The Ninth Circuit on Friday revived part of a delivery driver’s claim that the home furnishing company he worked for illegally fired him for drinking on his own time, but also let stand a lower court’s decision to toss his claim that he was retaliated against for having filed a workers’ compensation claim.
A former Gannett Co. Inc. employee has urged a Virginia federal judge to certify a class of more than 12,000 individuals in his suit accusing the company of causing its 401(k) plan to lose roughly $135 million by keeping investments in its former parent company's stock.
Foreign banks including Deutsche Bank AG, HSBC Bank PLC and the Royal Bank of Canada urged a New York federal court on Friday to dismiss a proposed class action accusing them and their affiliates of conspiring to rig a benchmark interest rate linked to the cost of borrowing Canadian dollars, saying the U.S. lacks jurisdiction.
A Michigan federal judge sentenced the widow of a former United Automobile Workers vice president to 18 months in prison Friday for tax fraud, an offense stemming from $1.5 million in cash bribes and gifts her husband accepted from Fiat Chrysler Automobiles executives during collective bargaining negotiations between the company and the union.
A group of Ohio workers and family business owners told Congress’ pension committee Friday of their fears the looming multiemployer pension crisis will erase what they’ve worked hard to build — in the workers’ case, their retirement savings, and in the business owners’ case, their entire companies.
The last week has seen dozens of pension funds and other major institutional investors sue HSBC, the leadership of prestigious U.K. schools take on Scottish Widows and a dispute between two foreign exchange firms. Here, Law360 looks at those and other new claims in the U.K.
An educated guess puts the number of new litigation funders launched in the past 18 months at 30 — an astonishing number, with more to come. Is this a blessing to our legal system or something more akin to tulip mania? Maybe both, says Ralph Sutton, founder and CEO of litigation funding firm Validity Finance LLC.
As new communications platforms displace email, the legal industry is awkwardly grappling with complex e-discovery questions. Fortunately, this environment provides a very fertile ground of incentives for innovation in both e-discovery technology and service offerings, says Thomas Bonk of Epiq.
Notwithstanding the latest salary war among prominent law firms, I urge my middle-aged and older colleagues to help the recent graduates we know focus on the long term. Even if the salary is the same, there is a big difference between an institutional firm and the relatively younger firms matching BigLaw, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.
Law professor Nathalie Martin's new book, "Lawyering From the Inside Out: Learning Professional Development Through Mindfulness and Emotional Intelligence," can be of value to any lawyer aiming to achieve greater productivity, relieve the stress of the legal profession and focus on goals, says U.S. District Chief Judge Denise Page Hood of the Eastern District of Michigan.
Despite recent warnings of the risks associated with executives feeling overly invested in their employer’s stock, some board members and compensation committees still turn a deaf ear to stock diversification programs that seem at odds with the idea of aligning executive interests with those of shareholders. Sometimes, however, the pendulum swings too far, says Mark Poerio of Wagner Law Group.
The blockbuster e-discovery cases, with big sanctions and bigger controversies, have been few and far between this year. But that doesn’t mean the legal questions around e-discovery have been answered. Let’s take a closer look at three cases worthy of our attention, says Casey Sullivan, an attorney at discovery technology provider Logikcull.
Later this week, Harvard Law students will begin bidding on interview slots with the nation’s top law firms. Our institutions owe it to their students not only to require firms to disclose mandatory arbitration provisions in new associate contracts, but also to bar employers from on-campus recruiting if they require these provisions, says Isabel Finley, a third-year student at Harvard Law School and president of the Harvard Women’s Law Association.
The U.S. Supreme Court’s majority and dissenting opinions in Wisconsin Central v. U.S. — a significant decision for the tax community despite receiving little attention last month — are an important exploration of when it is permissible for a court to use interpretive tools like legislative history, administrative interpretation and policy outcomes to find the meaning of complex statutory language, says Professor Edward Zelinsky of Benjamin N. Cardozo School of Law.
Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.
The five most highly compensated employees at a nonprofit may be subject to a new 21 percent excise tax thanks to last year's tax overhaul. To successfully compete in hiring talent with for-profit companies, nonprofits should consider offering total compensation packages that include non-salary opportunities such as increased paid time off, schedule flexibility and low-cost benefits, says Elliot Dinkin of Cowden Associates Inc.