A New York federal judge has thrown out a proposed class action accusing the energy infrastructure outfit Chicago Bridge & Iron Co. of flouting the Employee Retirement Income Security Act by keeping company stock in its workers’ retirement plan as a nuclear construction project tanked.
A Nebraska federal judge misapplied the Employee Retirement Income Security Act in finding that Metropolitan Life Insurance Co. abused its discretion when it denied a widow an optional life insurance benefit under her late husband’s Ford Motor Co. plan, the insurer told the Eighth Circuit on Thursday.
Convenience store operator GPM Investments LLC accused Sun Capital Partners Inc. on Friday in Delaware federal court of scheming to pass off $60 million in pension fund withdrawal liabilities that its subsidiary owed as part of a larger pattern of looting companies under its control for profit.
A Live Nation Entertainment Inc. investor on Friday asked a New York federal judge to let her voluntarily drop a putative class action against the live entertainment giant, days after filing the suit that accused Live Nation of falsely inflating its 2017 adjusted operating income to trigger $10.8 million in bonuses and stock awards to top brass.
The last week has seen an Irish real estate developer sue Ireland's "bad bank," a contract dispute between two African banks and a French fishing operator, and several major insurers take Danish shipping giant Maersk to court. Here, Law360 looks at those and other new claims in the U.K.
A U.S. Trustee on Friday asked a Texas bankruptcy court to deny radio broadcast giant iHeartMedia Inc. permission to file the metrics for its proposed $108 million employee bonus plan under seal, saying stakeholders need to be able to evaluate the plan.
The U.S. Supreme Court’s recent landmark decision upholding the legality of employee class action waivers supports the University of Southern California’s bid to individually arbitrate claims that the school mismanaged workers’ retirement savings, the university told the Ninth Circuit on Thursday.
An employee taking an unpaid absence from work under the Family and Medical Leave Act qualifies as “unemployed” under the Texas Labor Code, but is not necessarily eligible for unemployment benefits, the Texas Supreme Court held Friday.
Platinum Partners co-founder Murray Huberfeld told a Manhattan federal judge Friday he knew a $60,000 invoice he billed his now-bankrupt hedge fund for basketball tickets was fake, copping to a conspiracy count and avoiding a retrial on charges of scheming to pay kickbacks to lure a $20 million investment from a union pension fund.
U.S. Sen. Ron Wyden, D-Ore., and Sen. Patty Murray, D-Wash., sent a letter Thursday to the White House demanding answers to why President Donald Trump decided to nominate Gordon Hartogensis to lead the Pension Benefit Guaranty Corp. before the current director’s term ended, calling the decision “unexpected and seemingly unnecessary.”
A consortium led by Partners Group has agreed to buy German energy billing and management giant Techem GmbH in a deal with an enterprise value of roughly €4.6 billion ($5.4 billion), the companies announced on Friday.
An Illinois federal judge dismissed a proposed class action Friday that accused Northwestern University of botching its handling of workers’ retirement savings, making the case the second in a recent wave of Employee Retirement Income Security Act lawsuits against prestigious universities to be thrown out.
The judge overseeing an Employee Retirement Income Security Act class action accusing New York University of mismanaging workers' retirement savings has said she'll likely issue a decision in the closely-watched case in July.
A Virginia federal judge has placed a defunct technology consulting company’s retirement plan into the hands of an independent fiduciary, which will distribute the plan’s more than $500,000 in assets to 24 former employees, the Employee Benefits Security Administration announced Thursday.
Cigna and American Specialty Health were hit with a proposed Employee Retirement Income Security Act class action in California federal court on Wednesday, accusing them of colluding to saddle members and plans with the charges American Specialty incurs for processing claims and administering a network on Cigna's behalf.
Kentucky Gov. Matt Bevin took his latest shot at the state's attorney general on Wednesday in their ongoing court battle over a law that alters teachers' pensions, telling a Kentucky state judge that Andy Beshear's argument is based on a "nonsensical, fiscally irresponsible and legally unjustifiable" theory.
Tesla Inc. CEO Elon Musk violated federal labor law in a recent tweet suggesting the company’s workers would lose their stock options if they unionized, the United Auto Workers union alleged in a charge filed with the National Labor Relations Board.
The federal government has said that the U.S. Supreme Court doesn’t need to consider a dispute over whether a woman's claims against Ford under an Employee Retirement Income Security Act provision kept her from bringing claims under another, arguing that the Sixth Circuit’s ruling meshed with high court precedent.
The Pennsylvania Supreme Court has declined to hear an appeal of a decision allowing an ex-Ligonier Law part-time legal assistant to receive unemployment benefits after the firm fired her for refusing to return to full-time status.
Major questions still dog the path to final approval of a $2.3 billion settlement of forex-rate-rigging claims by 15 major banks, a hearing Wednesday revealed, as a New York federal judge asked plaintiffs’ counsel for more data to support an 18 percent fee request and delved into the proper treatment of ERISA claims.
In this overview of the key considerations in credit agreements related to potential liabilities under the Employee Retirement Income Security Act, Lexis Practice Advisor expert attorney Kim Steefel discusses controlled group liability concerns as well as lender and borrower positions with respect to relevant ERISA clauses.
While the fate of recent bills seeking to prohibit or severely limit employment restrictive covenants is uncertain at best, in New York the employee choice doctrine remains a useful tool in the employer arsenal for restricting post-employment competition if the groundwork is properly created and administered, says Jerome Coleman of Putney Twombly Hall & Hirson LLP.
The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.
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.