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Benefits
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July 23, 2024
Chancery Spikes Raytheon Stockholder's Derivative Suit
A shareholder who faulted directors at Raytheon Technologies Corp. for allowing a special committee to change employee compensation plans without first seeking stockholder approval has failed to show how the board of directors did anything wrong, a Delaware vice chancellor ruled Tuesday, dismissing the derivative lawsuit.
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July 23, 2024
Mother Urges Sanctions On Nonprofit Over Unpaid $13.4M Win
An 81-year old mother who won a $13.4 million judgment after her son died in a group home run by the Connecticut Institute for the Blind asked a state court judge Tuesday to order swift sanctions against the nonprofit for allegedly dodging depositions and stalling attempts to collect the award.
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July 23, 2024
Labor Dept. ESG Rule May Survive Chevron's Demise
The Fifth Circuit recently overturned a ruling that relied on the now-defunct doctrine of Chevron deference to uphold a U.S. Department of Labor rule covering socially conscious retirement plan investing, but some experts believe the rule has a good chance at surviving — even with the precedent off the books.
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July 23, 2024
Union, Workers Can't Halt Release Of Therapy Docs
An AFL-CIO affiliated union can't stop a utility company from requesting therapy notes from three workers who are trying to return to work from short-term disability, a Pennsylvania federal judge ruled, saying that there is a lack of irreparable injury.
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July 23, 2024
Feds Urge 6th Circ. To Affirm Pharma Owner's Fraud Sentence
The Sixth Circuit should affirm a district court's fraud convictions, nearly five-year sentence and $7 million restitution order against an Ohio pharmaceutical salesman who underreported his income to reduce his tax liability in a multimillion-dollar scheme involving bogus insurance billings, the federal government said.
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July 23, 2024
Funds Say Boeing Can't Ditch 737 Max Securities Suit
Pension funds leading a proposed securities fraud suit against Boeing have fired back at the airline manufacturer's attempt to dismiss allegations that it misled investors about the safety of its 737 Max jets, saying the suit sufficiently showcases how missteps by Boeing's top brass diminished shareholder value.
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July 23, 2024
Malpractice Insurer Escapes Conn. Firm's Suit For Coverage
A Connecticut law firm and its principal will not have their legal bills reimbursed by their malpractice insurer after a state judge granted an early win to the insurance company, noting the firm admitted it was already facing a misconduct claim when its policy went into effect.
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July 23, 2024
Senate Dems Roll Out Bill To Codify Chevron Deference
Sen. Elizabeth Warren, D-Mass., led a group of Democratic senators Tuesday in introducing a bill to codify the now-defunct doctrine of Chevron deference after it was struck down by the U.S. Supreme Court last month.
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July 23, 2024
Schnader Harrison Must Face Ex-Firm Atty's Class Action
The former equity partners of defunct law firm Schnader Harrison Segal & Lewis LLP must face a proposed class action accusing them of improperly spending employee money intended for the firm's retirement plan, after a Pennsylvania federal judge shot down their motion to dismiss.
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July 23, 2024
Chamber Rips Multibillion-Dollar Atty Fee Bid In Musk Pay Suit
The nation's largest business organization has urged Delaware's Court of Chancery to adopt sweeping curbs to jumbo plaintiff attorney fee awards, declaring a multibillion-dollar fee bid following the cancellation of Tesla CEO Elon Musk's stock-based pay plan "shocks the conscience."
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July 22, 2024
Investment Adviser Seeks To Ax Union Fund's Bad Advice Suit
A union pension fund that claims it lost $30 million due to bad investment advice it received in the mid-2010s missed its chance to challenge that advice, an investment advisory firm argued in California federal court, saying the fund blew past its deadline to sue and didn't qualify for an extension.
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July 22, 2024
Plantronics Investors Ink $29.5M 'Channel Stuffing' Sales Deal
Plantronics investors have asked a California federal judge to greenlight a $29.5 million settlement resolving their claims the company used unsustainable "channel stuffing" sales practices to deceptively boost revenues, which led to a drop in stock price when the tactic failed and was revealed to investors.
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July 22, 2024
Uber, Investors Ink $200M Deal To End 'Train Wreck' IPO Suit
Uber Technologies Inc. has agreed to pay $200 million to exit a class action accusing it of failing to inform investors about significant business risks tied to stalling growth and potential legal issues ahead of its $8.1 billion initial public offering in 2019.
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July 22, 2024
Ex-NFL Player Urges High Court To Hear Benefits Dispute
A former NFL player urged the U.S. Supreme Court to take up his lawsuit accusing the league's retirement plan of shorting him on disability benefits payments for years, saying there's a circuit court split regarding the level of deference to apply when reviewing plan administrators' decisions.
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July 22, 2024
Anthem Blue Cross Wants Lab's $3.8M Suit Tossed
Anthem Blue Cross Blue Shield of Connecticut has asked a federal judge to toss a medical lab's lawsuit seeking nearly $3.8 million from it for refusing to pay for or underpaying for lab work and COVID-19 tests, arguing the claims are "baseless."
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July 22, 2024
Ex-NJ Judge Wants Chief Justice Deposed In Pension Suit
A former Bergen County Superior Court judge told a New Jersey state court that she must be allowed to depose Chief Justice Stuart Rabner of the New Jersey Supreme Court because he has information about the state's decision to deny her disability benefits application that no one else has.
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July 22, 2024
Catching Up With Delaware's Chancery Court
A $6 million bank fee, a $42.5 million shopping mall deal, some questionable Amazon deliveries and long-ago expired ketchup: it was all part of the comings and goings in Delaware's Court of Chancery last week. New cases involved mining and cybersecurity companies, board takeovers, "weaponized" director election provisions, and legal fees following a $3.1 billion telecom merger. In case you missed it, here's the latest from the Chancery Court.
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July 22, 2024
Exec Comp Atty Returns To Wilson Sonsini As Practice Leader
A San Francisco-based attorney from Freshfields, known for his work on some of the highest-profile deals of the past several years, is returning to Wilson Sonsini to co-lead its employee benefits and compensation practice, the firm announced Monday.
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July 19, 2024
Santos Can't Duck Charges Ahead Of Trial, Judge Says
A New York federal judge on Friday refused to throw out identity theft and theft of public money charges against former U.S. Rep. George Santos, rejecting his arguments that the charges were too vague to survive.
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July 19, 2024
Investors Want Merrill, UBS Back In $364M Libor-Rigging Suit
Investors who were allegedly harmed by the manipulation of a widely used interbank lending interest rate have appealed a final judgment that ended claims against major banks and financial services companies in protracted litigation that has garnered settlements totaling $364.5 million.
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July 19, 2024
Chancery Dismisses Kraft Heinz-3G Stock Drop Suit
Shareholders of The Kraft Heinz Co. lost their Chancery Court lawsuit over a $1.2 billion stock sale by 3G Capital Inc. after the Delaware court deemed concerns about board conflicts "meaningless, given the dearth of well-pleaded allegations."
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July 19, 2024
3 Atty Takeaways On How AI Affects Employee Benefits
Artificial intelligence technology has the potential to improve employee benefits administration and could even help employers and retirement savers avoid underperforming 401(k) investments, attorneys say. Here are three takeaways on how AI is affecting employee benefits administration and litigation.
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July 19, 2024
Hanover Tries To Delay $13.4M Award Over Home-Care Death
Massachusetts-based Hanover Insurance Group says it should not be forced to pay a $13.4 million judgment awarded by a jury in March to the family of a man who died in a Connecticut group home until the home operator's appeal is decided, in a motion filed in New Haven Superior Court.
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July 19, 2024
NY Life Workers' $19M ERISA Deal Gets Final Approval
Current and former New York Life workers received final approval for a $19 million deal ending their lawsuit claiming the insurance giant kept inferior proprietary investment options in its employee 401(k) plans.
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July 19, 2024
NJ Says 3rd Circ. Ruling Backs State Temp Worker Law
The State of New Jersey called a federal court's attention to a recent Third Circuit decision holding that the bar for issuing preliminary injunctions should be higher, saying the ruling supports its argument opposing a business community request to block a state law regulating protections for temporary workers.
Expert Analysis
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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9th Circ. Ruling Puts Teeth Into Mental Health Parity Claims
In its recent finding that UnitedHealth applied an excessively strict review process for substance use disorder treatment claims, the Ninth Circuit provided guidance on how to plead a Mental Health Parity and Addiction Equity Act violation and took a step toward achieving mental health parity in healthcare, says Mark DeBofsky at DeBofsky Law.
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Del. Match.com Ruling Maintains Precedent In Time Of Change
Despite speculation that the Delaware Supreme Court could drive away corporations if it lowered the bar for business judgment review in its Match.com stockholder ruling, the court broke its recent run of controversial precedent-busting decisions by upholding, and arguably strengthening, minority stockholder protections against controller coercion, say Renee Zaytsev and Marc Ayala at Boies Schiller.
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Inside OMB's Update On Race And Ethnicity Data Collection
The Office of Management and Budget's new guidelines for agency collection of data on race and ethnicity reflect societal changes and the concerns of certain demographics, but implementation may be significantly burdensome for agencies and employers, say Joanna Colosimo and Bill Osterndorf at DCI Consulting.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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Management Incentives May Be Revisited After PE Investment
As the economic climate shifts, key parties in private equity investment transactions may become misaligned, and management incentive plans could become ineffective — so attentive boards may wish to caucus with management to evaluate continued alignment, say Austin Lilling and Nida Javaid at Morgan Lewis.
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Practicing Law With Parkinson's Disease
This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.
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Series
Playing Hockey Makes Me A Better Lawyer
Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.
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For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill
A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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2 Recent Suits Show Resiliency Of Medicare Drug Price Law
Though pharmaceutical companies continue to file lawsuits challenging the Inflation Reduction Act, which enables the federal government to negotiate for lower prescription drug prices, recent decisions suggest that the reduced drug prices are likely here to stay, says Jose Vela Jr. at Clark Hill.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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How American Airlines ESG Case Could Alter ERISA Liability
Spence v. American Airlines, a Texas federal case over the airline's selection of multiple investment funds in its retirement plan, threatens to upend the Employee Retirement Income Security Act's legal framework for fiduciary liability in the name of curtailing environmental, social and governance-related activities, say attorneys at Mayer Brown.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.