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Preemption Fiduciary Duty

BCLP

Call for Vacatur of Massachusetts’ Fiduciary Duty Standard for Broker/Dealers

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On August 25, 2023, Justice Wendlandt of the Massachusetts Supreme Judicial Court issued a ruling in Robinhood Financial, LLC v. Secretary of the Commonwealth which upheld the legality of the fiduciary duty standard imposed...more

Fisher Phillips

SCOTUS Review: 8 Key Rulings from Last Term that Impact the Workplace and 3 Issues We’re Watching

Fisher Phillips on

Many employers looked to the Supreme Court last term for clarity in cases with a significant impact on the workplace. The justices continued to shape the employment law landscape by ruling on an array of issues involving...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Reiterates Broad Scope of ERISA Preemption and Difficulty of Pleading Breach of Fiduciary Duty and Conversion...

The Commercial Division’s decision in Rockmore v. Plastic Surgery Associates, LLP demonstrates the broad scope of ERISA preemption and the difficulty of pleading breach of fiduciary duty and conversion claims alongside breach...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Arizona Law on Union Benefits and Financial Disclosure Obligations Set to Take Effect

In May 2021, the Arizona Legislature passed and Governor Doug Ducey signed Senate Bill (SB) 1268, which imposes stricter reporting requirements on private-sector labor unions by requiring “similar fiduciary guidelines as...more

Epstein Becker & Green

#WorkforceWednesday: SCOTUS in Review, Biden Acts to Limit Non-Competes, NY HERO Act Model Safety Plans - Employment Law This...

Epstein Becker & Green on

Welcome to #WorkforceWednesday. This week, we recap the U.S. Supreme Court’s term and its impact on employers. U.S. Supreme Court Employment Law Decisions in Review (see video attached) The Supreme Court’s term ended on...more

McDermott Will & Emery

[Webinar] Protecting Your Employee Benefits Plan from Cybersecurity Threats | What Does the US Department of Labor’s Guidance Mean...

McDermott Will & Emery invites you to a webinar for an in-depth discussion on the US Department of Labor’s initial cybersecurity guidance for retirement plans under the Employee Retirement Income Security Act (ERISA) and what...more

Jackson Lewis P.C.

About That Pension Check… A Miscalculation Case With Broader Implications

Jackson Lewis P.C. on

The Ninth Circuit Court of Appeals recently addressed several issues of first impression in Bafford v. Northrop Grumman (9th Cir. April 15, 2021), a lawsuit involving retirees who received vastly overstated pension benefit...more

Rivkin Radler LLP

Employee Relations Law Journal – From the Courts

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North Carolina District Court Permits Plan’s Lawsuit Against Third Party Administrator to Continue A federal district court in North Carolina has ruled that a plan subject to the Employee Retirement Income Security Act of...more

Bass, Berry & Sims PLC

Chris Lazarini Examines When Claims Are Preempted by ERISA

Bass, Berry & Sims attorney Chris Lazarini examined a case questioning when claims are preempted by ERISA. The court applies a two-prong test to determine when claims are preempted: 1. Does the complaint arise only because...more

Cadwalader, Wickersham & Taft LLP

2019 Year in Review: Securitization Litigation and Regulation

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect.  A...more

Dechert LLP

Massachusetts Moves Forward With Proposed Fiduciary Duty for Broker-Dealers and Investment Advisers

Dechert LLP on

Massachusetts’ Secretary of the Commonwealth, William F. Galvin, caused the Securities Division to issue, on November 29, 2019, a revised proposed uniform standard of conduct for broker-dealers, investment advisers, and their...more

Allen Matkins

SEC Passes Preemption Question To The Courts

Allen Matkins on

Yesterday, the Securities and Exchange Commission approved Regulation Best Interest. According to the SEC's announcement, this new regulation will require brokers "to act in the best interest of a retail customer when making...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Affirms Dismissal of ERISA Claims Against Health Insurers

The Ninth Circuit agreed that the employer-members of Montana’s Chamber of Commerce failed to state a claim for breach of fiduciary duty under ERISA § 502(a)(2) and violations of ERISA’s prohibited transaction rules under...more

Allen Matkins

Will Regulation "Best Interest" Preempt State Law?

Allen Matkins on

Yesterday's post concerned possible arguments that federal law preempts Nevada's fiduciary standard for broker-dealers. At present, any preemption would have to be based on the National Securities Markets Improvement Act...more

K&L Gates LLP

K&L Gates Triage: Important Takeaways from Omega Hospital, LLC v. United Healthcare Services, Inc.

K&L Gates LLP on

In this episode, Gary Qualls discusses a recent development in payer litigation which implicates a number of recurring issues often raised in Employee Retirement Income Security Act (ERISA) cases. Specifically, a federal...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2018

Proskauer Rose LLP on

Editor's Overview - In last quarter's Newsletter, we commented that all eyes were on President Trump's nomination to the U.S. Supreme Court, as the outcome of the appointment process can have a significant impact on the...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2018

Proskauer Rose LLP on

As we head into the thick of summer, all eyes are on President Trump's nomination to the U.S. Supreme Court to replace retiring Justice Anthony Kennedy and the impact the new Justice will have on shaping the law for...more

Morris James LLP

Court Of Chancery Enforces Agreement To Waive Corporate Opportunity Claims

Morris James LLP on

Alarm.Com Holdings Inc. v. ABS Capital Partners Inc., C.A. 2017-0583-JTL (June 15, 2018) - Under 8 Del C. Section 122(17) a corporation may waive any claim that a corporate opportunity was wrongfully taken by a fiduciary....more

Allen Matkins

Will "Best Interest" Preempt Fiduciary Duties?

Allen Matkins on

Last month, the Securities and Exchange Commission proposed to established a standard of conduct for broker-dealers when making a recommendation of any securities transaction or investment strategy involving securities to a...more

Faegre Drinker Biddle & Reath LLP

ERISA Litigation: 5 Defenses to Know and Prepare For

A ubiquitous presence in the federal courts, the Employee Retirement Income Security Act of 1974 (ERISA) regulates the administration of employee pension and welfare plans — otherwise defined as plans that provide employees...more

Allen Matkins

Directors Fail To Escape Liability For Approving Dividend

Allen Matkins on

I last wrote about FDIC v. Ching, 2014 U.S. Dist. LEXIS 92687 (E.D. Cal. July 8, 2014) in July of 2014. That post concerned Judge Kimberly J. Mueller's ruling that California's statutory restrictions on distributions to...more

Saul Ewing LLP

The Friday Five: Five Current ERISA Litigation Highlights - January 2018

Saul Ewing LLP on

Invasion of Privacy Claim Preempted by ERISA. A Western District of Pennsylvania court granted the administrator’s Rule 12(b)(6) motion to dismiss the plaintiff’s invasion of privacy claim as preempted by ERISA. ...more

Winstead PC

Federal Court Dismisses Breach of Fiduciary Duty Claim Because It Was Preempted By The Texas Uniform Trade Secret Act

Winstead PC on

In Embarcadero Techs., Inc. v. Redgate Software, Inc., four employees left their employer and began working at a new company. No. 1:17-cv-444-RP, 2018 U.S. Dist. LEXIS 1902 (W.D. Tex. January 5, 2018). ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - November 2017/ Volume 9 / Issue 4

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between August 2017 and October 2017....more

K&L Gates LLP

Health Care Institutions

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Originally published in Haig, Business and Commercial Litigation in Federal Courts, Fourth Edition §§ 87:1 et seq. © 2016 American Bar Association. This chapter discusses federal court litigation relating to health care...more

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