American Airlines was sued on Monday by a retired couple alleging the company and its health insurance provider, UnitedHealthcare, were flighty about honoring their health plan and meeting ERISA requirements.
Heightened oversight and accountability in the corporate world has prompted a surge in executive compensation, according to a study released Tuesday by an independent executive compensation consulting firm.
As US Airways struggles to get back on its feet after a crippling bankruptcy, the airline’s chief executive officer has infuriated flight attendants and pilots by exercising options for 270,000 shares of company stock, netting himself upwards of $9 million.
A testy battle over trade secrets and employee agreements is brewing between former corporate partners after a group of officers and employees at insurance giant American International Group Inc. were sued by insurance brokerage C.V. Starr & Co. Inc.
Employees of Lear Corp. have class action lawsuits against the automotive interior company and its board of directors, claiming they should have protected employees’ retirement savings plan from predictable losses in the shaky auto market.
The curtain may have closed in the drama between Valeant Pharmaceuticals International and its controversial former CEO, after the drug company announced on Thursday that it had settled its lawsuit against Milan Panic for $20 million.
In an unsurprising move, Delta Air Lines has asked the bankruptcy court to terminate its pilots’ pension plans, maintaining that the massive legacy obligations it is facing could cripple the struggling airline.
A U.S. Appeals Court panel overturned a lower court decision Monday that said International Business Machines Corp.’s pension plan discriminated against older workers.
A group of equity security holders for bankrupt Dana Corp. has cautioned that modifying employee retirement benefits may end up hurting the struggling auto parts supplier.
Giving the green light to an overtime pay case brought by three former A.G. Edwards & Sons Inc. brokers, a federal judge last week denied the financial powerhouse’s bid to toss the claims, ruling that there are enough genuine issues of fact for the case to move forward.
Taking a page from the U.S. House of Representatives, the U.S. Senate has passed a sweeping overhaul of U.S. pension laws, shooting the bill straight to President Bush’s desk for approval.
A class action lawsuit accuses insurance giant GEICO of illegally setting rates for auto body repair shops in California by tampering with the state-mandated surveys it conducts as an auto insurer.
Shareholders of bankrupt Delphi Corp. want to hire a financial advisor for $175,000 a month to assist with labor matters, the divesture of property and the evaluation of the company’s relationship with its biggest customer, General Motors Corp.
When a Chapter 11 debtor seeks to void multiple pension plans at the same time under its reorganization test, a court can apply one test to all of the plans, according to a ruling filed last week in the U.S. District Court of Appeals for the Third Circuit.
A former principal and a former trader at Suncoast Capital Group Ltd. have been found liable for violating securities laws in an alleged kickback scheme between the defendants and an employee of New York Life Insurance Company Inc.
A former employee of rental car company Avis Group Holdings Inc. backdated a spreadsheet software program and then wrongly sued the company for copyright infringement, a federal judge ruled Thursday.
A judge has struck down Maryland’s controversial “Wal-Mart law,” which required companies with more than 10,000 employees to spend at least 8% of their payroll on employee health insurance.
Northwest Airlines Corp. has reached a tentative agreement with the new labor union representing its flight attendants, avoiding a strike and freeing the bankrupt carrier to save an estimated $195 million per year.
A bankruptcy court judge Friday approved Mesaba Airlines Inc.’s motion to reject its labor contracts with its three largest unions, provided it gives them 10 days notice.
An Ohio appeals court slashed a landmark $250 million punitive damages award to under $7 million, dealing Prudential Securities Inc. a victory in a case that centered on a Prudential employee reallocating retirees' investments without their consent.