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"Key Takeaways: Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions"

On March 8, 2017, Skadden hosted a webinar titled “Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions.” The Skadden panelists were tax partners Nathaniel Carden and Armando Gomez, and litigation...more

Sixth Circuit Upholds Dismissal of Fraud and Contract Claims Against Employer Sponsoring Green Card Application for Employee

In an interesting case situated at the intersection of immigration and contract law, the Sixth Circuit recently affirmed a district court’s dismissal of claims against Dow Corning Corporation stemming from its sponsoring an...more

Advisors Advantage - February 2017

How You Can Stand Out From The Crowd As A Retirement Plan Advisor. It would be a detriment to focus only on this stuff. There are lots of financial advisors who claim they handle retirement plans, but there are...more

When Does Preparing to Compete Cross the Line?

An employee or former employee who starts preparing to compete with his employer or former may get tripped up in one of two scenarios: (1) breaching a fiduciary duty of loyalty; or (2) running afoul of a noncompete...more

Litigation defending their 401(k) plan is the cost of doing business offering proprietary mutual funds

It’s a favorite topic of mine because it’s fascinating to consider, so many mutual fund companies are being targeted for litigation for offering proprietary mutual funds in their employees’ 401(k) plan....more

Revenge of the Whistle-blower: Possible Consequences of Compliance Failures

In a company with a robust compliance culture, potential whistleblowers can express their concerns without fear of retribution. By contrast, the penalty for a culture that silences whistleblowers just got steeper. Companies...more

Selective Enforcement Not A Viable Defense to Non-Competition Agreements Under Ohio Law

Employers sometimes worry whether seeking to enforce their non-competes in some circumstances but not others might preclude enforcement altogether in the future. Not so, says one court. Applying Ohio law, the United States...more

“But Our Vendor Handles Everything — How Can We Still Have Fiduciary Liability?”

As the rules governing retirement and health plans grow more complex, employers often need professional help in order to keep up with the day-to-day management of the employee benefit plans they sponsor. From third-party...more

Insider Trading and Related Risks for Executive Branch Employees: Pay Attention to the STOCK Act

As a new administration arrives in the nation’s capital amid heightened scrutiny over conflicts between government service and personal business interests, a little-used law — the Stop Trading on Congressional Knowledge Act...more

Advisors Advantage - February 2017

Concepts That Retirement Plan Advisors Shouldn't Focus On. It would be a detriment to focus only on this stuff. Being a financial advisor isn't as easy as many people on the outside think. There are so many things you ...more

The Rosenbaum Law Firm Review - January 2017

Concepts You May Not Be Aware Of As A 401(k) Plan Sponsor. Quite a few things out there. As a child, I was never taught the birds and the bees. I was actually handed some cartoon book from my parents when I was...more

The ERISA Litigation Newsletter - January 2017

Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Schwab is the next defendant in Which Plan Provider’s 401(k), we should sue

Charles Schwab Corporation is the latest plan provider whose 401(k) is the subject of a class action Employee Retirement Income Security Act (ERISA) lawsuit. It’s starting to feel like a game show....more

In Bizarre Procedural Posture, Ninth Circuit Finds FCRA Willful Violation

In Syed v. M-I, LLC, the U.S. Court of Appeals for the Ninth Circuit recently held that combining a liability waiver and a Fair Credit Reporting Act (FCRA) disclosure in an employment application constitutes a willful...more

Delaware Chancery Court Throws Out Claims Over $10 Million Severance Payment to CEO

Seyfarth Synopsis: A Delaware Chancery Court judge last week dismissed a derivative complaint seeking to recover a $10 million severance payment made to a corporation’s former CEO because he found that plaintiff shareholder...more

Yes, a Fiduciary was held personally liable

In my practice, I always talk about how plan fiduciaries can be held personally liable for any issues regarding their retirement plan. Many plan sponsors just don’t pay any attention to that threat until they see it happen to...more

What Can the Business Community Expect from a Trump Administration

As Donald Trump’s administration takes shape, the business community stands watch expecting a business-friendly White House. Trump’s promises of fewer regulations and lower taxes have small and large businesses alike feeling...more

Plan Sponsors Sued Over Fees on Multiple Plans and Vendors

In a very novel retirement fee lawsuit, a plan sponsor is being sued over the cost of multiple plans and the use of multiple record-keepers....more

Federal Court Rejects Defend Trade Secrets Act Whistleblower Immunity Defense on a Motion to Dismiss and Orders Employee to Return...

This past Spring, we reported on the recently enacted Defend Trade Secrets Act (“DTSA”), which provides a new federal civil cause of action to trade secret owners seeking to pursue claims of trade secret misappropriation. ...more

Proof Again That Small Plans and Their Fiduciaries Can Get Sued

I’ve heard of for years on how small 401(k) plans and their plan fiduciaries don’t get sued. While they are never going to be the target for a class action lawsuit because they don’t have enough assets to justify an ERISA...more

California UCL Standing Requirement — On This You Can Rely

The California Court of Appeal recently confirmed, in case there was any doubt, that plaintiffs must allege (and ultimately prove) actual reliance to adequately state a fraudulent prong Unfair Competition Law claim (Cal. Bus....more

DOL Issues (Some) Additional Guidance on the Fiduciary Investment Advice Rule and Best Interest Contract Exemption

The US Department of Labor (DOL) has issued its first set of FAQs under the fiduciary investment advice rule (the “Rule”) and related prohibited transaction exemptions. In general, the Rule provides that parties providing...more

Seventh Circuit Recognizes “Substantial Truthfulness” Defense to Tortious Interference Claims under Wisconsin Law

As we wrap up another election cycle that has kept “fact checkers” working overtime analyzing the many dubious claims by candidates of all political persuasions, the Seventh Circuit has issued a decision that reminds us of...more

Change in How SC Supreme Court Views Conspiracy Claims May be Coming

As our various courts decide cases, we watch to see if there are any trends that seem to be developing or whether a case signals that the courts are beginning to change how they view a particular issue or type of case. We've...more

Thoughts on the DOL Fiduciary Rule Q&A

The Department of Labor (DOL) issues the first of a few Q&As to help with financial advisors to cope with meeting the requirements of the new fiduciary rule coming down the pike in April....more

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