Lockheed Martin

News & Analysis as of

Better Late Than Never: The California Supreme Court Reverses Itself, Holding That Corporate Policyholders May Assign Insurance...

Asset purchase and sale transactions are a preferred structure for many corporate deals. For a variety of reasons, it may be prudent for businesses or product lines to be transferred through these transactions, and an asset...more

Investing Wisely: Employers Need to Monitor 401(k) Plan Fees

Costly lawsuits filed by employees against their employers come in several varieties, including lawsuits alleging liability because of an employer’s handling of its employee benefit plans. Earlier this year, the U.S. Supreme...more

Latin America Corruption: Keep Calm, Carry On?

Recently, governmental authorities have pursued corruption investigations in Latin America with a vigor traditionally not seen. One potential result is a significant disruption of business. While there are inherent risks in...more

Employee Benefits Developments - July 2015

Second Circuit Holds That Posthumous QDROs Are Valid. Yale-New Haven Hospital brought an action in federal court to resolve competing claims by a former spouse of a deceased participant and the deceased participant’s...more

Plan Sponsor Agrees to $62 Million Settlement in ERISA Case Challenging 401(k) Plan Fees

Lockheed Martin Corp. has settled the 401(k) excessive fee litigation pending against it in federal court in Illinois....more

The Rosenbaum Law Firm Review - March 2015

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 and the Trickle Down Effect

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

N.J. Federal Court Dismisses Environmental Suit Against Lockheed Martin for Lack of Health Threat

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

Federal Court Rejects Homeowners’ Expert’s Valuation of Alleged Diminution in Value Due to Environmental Contamination

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 Abbott, Seventh Circuit Refines Applicability of Class Action Device in Defined Contribution Challenge

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

Ninth Circuit Affirms Dismissal of Asbestos “Take-Home” Exposure Case Against Premises Owner Finding No Foreseeability

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

Flawed Confidential Witness Allegations: A Crucial Issue in Securities Class Action Litigation

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

Law 360 Quotes Proskauer Regarding Upcoming SOX Decisions

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

Appeals Court Rules that "False Estimates" and "Fraudulently Low Bids" Are Basis for False Claims Act Liability

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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