Court Issues $35M Award Against Plan Fiduciaries for Excessive Fees by Reed Smith on 5/23/2012 A recent decision, Tussey v. ABB, Inc., 2012 WL 1113291 (W.D. Mo. 3/31/2012), has drawn much attention in the retirement plan community. In Tussey, a U.S. District Court found that ABB, Inc., along with several of the...more
Executive Entitled to Bonus Despite Breach of Fiduciary Duty by Fraser Milner Casgrain LLP on 5/18/2012 The Ontario Court of Appeal has recently restored an arbitrator’s decision granting a terminated executive his bonus despite his misappropriation of the employer’s money and resources during the period in which the bonus was...more
The ERISA Litigation Newsletter - May 2012 by Proskauer Rose LLP on 5/17/2012 In This Issue: - Editor’s Overview ...1 - Health Care Reform Remains Alive and Well as DOL Enforces ACA through Plan Audits ...2 - Class Warfare — ERISA Class Litigation in Light of Wal-Mart v....more
Recent Case Emphasizes Importance of Fiduciary Decision-Making Process by Poyner Spruill LLP on 5/15/2012 The decision-making process of a retirement plan fiduciary has always been important. However, the recent district court decision in Tussey v. ABB, Inc., which levied a $35.2 million judgment against the employer-fiduciary...more
New Jersey Appeals Court Saves Wachovia from $3.6 Million Whistleblower Award by Ramon Rivera on 5/3/2012 New Jersey Appeals Court Saves Wachovia from $3.6 Million Whistleblower Award by Ramon Rivera A New Jersey appeals court has overturned a $3.6 million whistleblower award against Wachovia after an employee alleged he...more
New Jersey Employment Law: Involuntary Resignation Akin to Termination for Purposes of Unemployment Insurance by Sean Dias on 5/1/2012 New Jersey Employment Law: Involuntary Resignation Akin to Termination for Purposes of Unemployment Insurance by Sean Dias New Jersey employers should be aware of a recent New Jersey employment law decision, which...more
Retirement Plan Fiduciaries Take Heed: Complying with DOL Regulations Was Not Enough to Avoid a $35 Million Judgment by Littler on 4/25/2012 Recent years have brought many challenges by 401(k) plan participants contesting either the reasonableness of fees charged to them for various administrative and investment-related services or the adequacy of the disclosure...more
NLRB Poster Requirement Postponed by Tammy Ensslin on 4/17/2012 Legal Alert: The NLRB’s “Notification of Employee Rights” poster rule, scheduled to take effect on April 30, 2012, has been postponed due to an injunction ordered today by the U.S. Court of Appeals for the...more
NLRB Poster Requirement Takes Effect April 30, 2012 by Tammy Ensslin on 4/6/2012 Legal Alert: As of April 30, 2012, most private sector employers will be required to post a notice advising employees of their rights under the National Labor Relations Act. (The original effective date was postponed.) The...more
Statements of Defence Required In Advance of Certification in Sino-Forest Class Proceeding by Osler, Hoskin & Harcourt LLP on 4/4/2012 In the recent Trustees of the Labourers’ Pension Fund et al. v. Sino-Forest decision – released March 26, 2012 – Justice Perell affirmed his earlier reasoning in Pennyfeather v. Timminco 1 by requiring the delivery of...more
Non-competes in the Electronic Workplace Solicitation in the Age of Social Media by Christina Bost Seaton on 3/31/2012 Prepared for the Employment Rights and Responsibilities Committee of the American Bar Association Labor and Employment Law Section Mid-Winter Meeting by the Non-Competition, Trade Secrets, Proprietary Information, and Duty of...more
Non-competes in the Electronic Workplace Solicitation in the Age of Social Media by Christina Bost Seaton on 3/31/2012 Paper prepared for the Employment Rights and Responsibilities Committee of the American Bar Association Labor and Employment Law Section Mid-Winter Meeting by the Non-Competition, Trade Secrets, Proprietary Information, and...more
Senate Passes House-Amended Insider Trading Legislation by Patton Boggs LLP on 3/27/2012 On Thursday, March 22, the Senate cleared the House version of the Stop Trading on Congressional Knowledge Act (STOCK Act) by unanimous consent. The legislation will now head to the President’s desk to be signed into law. The...more
New York Court Holds Negligent Supervision Claim Triggers Defense by Traub Lieberman Straus & Shrewsberry LLP on 3/26/2012 In its recent decision in Am. Auto. Ins. Co. v. Sec. Income Planners & Co., 2012 U.S. Dist. LEXIS 39444 (E.D.N.Y. Mar. 22, 2012), the United States District Court for the Eastern District of New York had occasion to consider...more
The Rise of the Computer Fraud and Abuse Case by Fenwick & West LLP on 3/21/2012 Major changes are in the works for the Computer Fraud and Abuse Act (“CFAA”), 18 U.S.C. § 1030. In the past ten years, the CFAA has moved from obscurity into the limelight as Congressional amendments drastically increased its...more