Lockheed Martin Corp. has settled the 401(k) excessive fee litigation pending against it in federal court in Illinois....more
In This Issue:
- It's The Plan Sponsor's Responsibility, Just Because.
- Reasons When A Plan Sponsor Should Change Their Plan Providers.
- What Retirement Plan Sponsors Have To Fear.
- A great Retirement Plan?...more
Lockhead Martin settled their excess fee lawsuit concerning their 401(k) plan by making a $62 million settlement with plan participants. That is probably the highest excess fee settlement on record. I know how people think...more
A New Jersey federal court recently dismissed an environmental suit against Lockheed Martin, rejecting the plaintiffs’ argument that any exposure to particular environmental contaminants is harmful. Leese v. Lockheed Martin...more
In a recent environmental contamination case, a New Jersey federal judge rejected an expert valuation of alleged diminution in value on Daubert v. Merrell Dow Pharmaceuticals, 509 U.S. 579 (1993) grounds. In Leese, et al. v....more
In its continuing analysis of when a class may be certified in a case alleging breach of fiduciary duties with respect to a defined contribution plan, the Seventh Circuit, in Abbott v. Lockheed Martin Corporation, reversed...more
On September 10, 2013, the Ninth Circuit Court of Appeals affirmed the dismissal of an asbestos lawsuit brought against the owner of a shipyard in Puget Sound on the basis that “no reasonable fact finder could conclude that...more
Section 806 of the Sarbanes-Oxley Act (“SOX”) prohibits publicly-traded companies from retaliating against employees who report various acts of wrongdoing to their employers. Employers have consistently attempted to narrow...more
The recurring and pervasive problem of flawed confidential witness (“CW”) allegations tops my list of the key issues in securities class action litigation.* I don’t mean just notorious situations such as those recently at...more
In a recent Employment Law 360 article (subscription required), Lloyd Chinn, co-head of Proskauer’s Whistleblowing & Retaliation Group, commented on upcoming decisions from the Tenth and Third Circuit Court of Appeals that...more
In a decision issued earlier this month (Hooper v. Lockheed Martin Corporation, D.C. No. 2:08-cv-00561-DSF-FMO, __ F.3d __ (9th Cir., August 2, 2012), the U.S. Court of Appeals for the Ninth Circuit held that "false...more
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