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Benefits
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January 31, 2025
State Street Must Face Suit Over Paper Co.'s ESOP Valuation
State Street Bank can't escape a suit claiming it allowed executives at a defunct paper company to sell overpriced shares to an employee stock ownership plan, a Wisconsin federal judge ruled, rejecting the firm's assertion that its stock valuation didn't cause any harm.
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January 30, 2025
PayPal Beats Investor Suit Over Inflated User Metrics Claims
A New Jersey federal court has dismissed a proposed class action that accused PayPal of misleading investors with user metrics inflated by a scam that took advantage of a PayPal promotion that paid people to set up new accounts, saying the investors did not show PayPal knew of the alleged scam when certain statements were made.
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January 30, 2025
Retired Atty Says Schwab, Others Flubbed His Contributions
A retired attorney said companies that managed his individual retirement plan, including Charles Schwab and Barnes & Thornburg LLP, hampered his tax savings by incorrectly classifying his pretax retirement contributions as posttax contributions, according to a lawsuit filed in an Indiana district court.
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January 30, 2025
Biz Groups Back 2nd Circ. Appeal In Morgan Stanley Pay Fight
Business trade groups including the U.S. Chamber of Commerce wrote in support of Morgan Stanley's Second Circuit appeal in a proposed class action from ex-advisers seeking additional deferred compensation, backing the investment bank's argument that an arbitrator should get to determine if federal benefits law applies to the arrangements.
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January 30, 2025
Symetra To Pay $2M To End Structured Settlement Suit
Insurance conglomerate Symetra has agreed to pay more than $2.1 million to settle a proposed class action in Washington federal court accusing two Symetra entities of luring roughly 2,000 recipients of personal injury settlements into selling their future stream of payments for a heavily discounted lump sum.
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January 30, 2025
Telephone Co. Workers Ask 8th Circ. To Revive 401(k) Fee Suit
Two workers urged the Eighth Circuit to revive their proposed class action claiming a telephone and data company allowed their $1.3 billion 401(k) plan to be overcharged with excessive fees, arguing the lower court held their claims to a high bar unsupported by circuit precedent.
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January 30, 2025
Magistrate Judge Endorses Sanctions In Union Benefits Fight
A New York federal magistrate judge overseeing a union benefits dispute recommended sanctioning an insulation hauling company that hasn't been responding to court paperwork, but stopped short of recommending that the district judge grant requests for default judgment against the company.
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January 30, 2025
Chancery Reverses Magistrate Toss Of Paramount Doc Suit
A Paramount Global pension fund stockholder has won a Delaware Court of Chancery reversal of a magistrate's dismissal of a suit for company books and records on events surrounding a proposed multibillion-dollar merger between Paramount and Skydance Media, in a decision heavily focused on unnamed sources.
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January 29, 2025
Jones Day Told To Provide Ex-Attys Family Leave Memo
Jones Day must hand over a memo from December 1993 to two ex-associates suing the firm over its allegedly discriminatory family leave policy, a D.C. federal judge ruled Wednesday, saying the firm had placed it "at issue" in the case and waiving any privilege that might have shielded the document.
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January 29, 2025
Court Garbled Pharma Owner's Fraud Charges, 6th Circ. Told
An Ohio district court misrepresented healthcare fraud charges against a pharmaceutical salesman to a jury, his attorney argued Wednesday before the Sixth Circuit, calling for the court to overturn his 2023 conviction and subsequent restitution order to pay $7 million to the IRS.
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January 29, 2025
Pension Plans Seek Trader's Testimony In $2B Tax Fraud Suit
Pension plans and individuals who Denmark's government alleges received fraudulent refunds have asked a New York federal court to allow U.K. court testimony into the record from a trader who Danish authorities say masterminded a $2.1 billion tax fraud, saying it shows he deceived other participants.
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January 29, 2025
4 Questions About Trump's Federal Worker Resignation Policy
President Donald Trump’s offer of letting federal workers resign with several months of paid administrative leave raises questions about its legality and whether workers will actually get paid, attorneys said. Here, Law360 explores four questions that stem from the policy.
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January 29, 2025
Southwest's Plan Oversight Cost Workers Millions, Court Told
Southwest Airlines cost workers millions of dollars in retirement savings by failing to ax a costly and underperforming investment fund from its combined $14 billion retirement plans, according to a proposed class action filed in Texas federal court.
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January 29, 2025
Labor Litigator Jumps To Holland & Knight In Calif., Colo.
Holland & Knight LLP has added an experienced labor and employment litigator who joins the firm's Los Angeles and Denver offices as an equity partner after 10 years with management-side employment firm Littler Mendelson PC.
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January 29, 2025
Workers Needed To Initiate Arbitration, Calif. Panel Says
A group of workers needed to initiate arbitration in their proposed class action claiming an insurance company misclassified them as exempt employees after a trial court sent their claims out of court, a California state appellate panel ruled, flipping the lower court's decision reviving the suit.
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January 29, 2025
RFK Jr. Disputes Anti-Vax Label In HHS Confirmation Hearing
Robert F. Kennedy Jr. attempted Wednesday morning to convince Republican and Democratic lawmakers that he is not anti-vaccine, despite many of his past comments to the contrary, as he hopes to convince them to confirm his appointment as head of the U.S. Department of Health and Human Services.
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January 28, 2025
Trump Targets Gender-Affirming Care For Minors In New Order
President Donald Trump ordered federal agencies late Tuesday to take steps to halt gender-affirming care for minors, including by cutting off Medicaid and military health coverage for what he called a "stain on our nation's history."
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January 28, 2025
Minn. AG Settles Novo Nordisk Insulin Claims With Price Cap
Minnesota's attorney general has reached a settlement resolving a long-running lawsuit accusing Novo Nordisk of inflating insulin prices, with the company agreeing to a $35 per month cap on out-of-pocket costs for state residents.
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January 28, 2025
Cigna Can't Escape Fight Over Prosthetic Coverage In Maine
Cigna must continue facing an Employee Retirement Income Security Act lawsuit by a man who was denied coverage of his prosthetic device, with a Maine federal judge saying she can't rule on the insurer's dismissal motion until she knows what entity funds the man's healthcare plan.
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January 28, 2025
Creditors Seek To End Yellow Corp.'s Exclusive Ch. 11 Control
The official committee of unsecured creditors in Yellow Corp.'s bankruptcy case filed a motion Tuesday to terminate the defunct trucking company's exclusive right to file a Chapter 11 plan, or alternatively, to convert the proceedings to a Chapter 7 liquidation.
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January 28, 2025
Union Worker Entitled To Higher Pension Benefits, Judge Says
A plumbing union pension plan violated federal benefits law when it refused to increase a worker's monthly payments because he opted to retire late, a Minnesota federal judge ruled, finding the plan's terms didn't prevent him from receiving a bump.
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January 28, 2025
Hand Sanitizer Co. Ex-Exec Inks $1M ESOP Deal
A former hand sanitizer company executive has agreed to pay $1 million to resolve claims from workers that he violated federal benefits law by helping organize a $398 million purchase of overvalued company stock by their employee stock ownership plan, according to filings in Illinois federal court.
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January 28, 2025
Trader Joe's Accused Of Badly Stocked 401(k), High Fees
Grocery chain Trader Joe's mismanaged its retirement plan for employees to the tune of tens of millions of dollars, according to a potential class action filed Tuesday in Massachusetts federal court.
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January 27, 2025
Virtu, Insiders Sued In Del. Over Stock Buybacks
Stockholders of Virtu Inc. have sued the global financial services venture's top brass in Delaware's Court of Chancery, alleging they diverted roughly $400 million from public stockholders through share repurchases that took advantage of the company's two-tiered corporate structure.
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January 27, 2025
Radiology Co.'s Ex-Workers Win Class Cert. In ESOP Suit
A Colorado federal judge on Friday certified an ERISA class action accusing a radiology company and its trustee of overcharging its employee stock ownership plan for purchase of company stock.
Expert Analysis
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Opinion
FIFA Maternity Policy Shows Need For Federal Paid Leave
While FIFA and other employers taking steps to provide paid parental leave should be applauded, the U.S. deserves a red card for being the only rich nation in the world that offers no such leave, says Dacey Romberg at Sanford Heisler.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Air Ambulance Ruling Severely Undermines No Surprises Act
A Texas federal court's recent decision in Guardian Flight v. Health Care Service — that the No Surprises Act lacks a judicial remedy when a health insurer refuses to pay the amount established through an independent review — likely throws a huge monkey wrench into the elaborate protections the NSA was enacted to provide, says Mark DeBofsky at DeBofsky Law.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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What DOL Fiduciary Rule Means For Private Fund Managers
Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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High Court's Abortion Pill Ruling Shuts Out Future Challenges
The U.S. Supreme Court's unanimous ruling in U.S. Food and Drug Administration v. Alliance for Hippocratic Medicine maintains the status quo for mifepristone access and rejects the plaintiffs' standing theories so thoroughly that future challenges from states or other plaintiffs are unlikely to be viable, say Jaime Santos and Annaka Nava at Goodwin.