Settlement

News & Analysis as of

Proposed $13 Million Settlement in LinkedIn Privacy Case Awaits Court Approval

Lawyers in a privacy class action against LinkedIn have urged the U.S. District Court in the Northern District of California to give final approval to a $13 million settlement that was made public last year. The deadline for...more

Derivative Settlement With Benefit Personal to Plaintiff Rejected

In 1850, Abraham Lincoln prepared notes for a law lecture. He emphasized the importance of compromise because after litigation, "the nominal winner is often a real loser—in fees, expenses, and waste of time." Delaware law...more

Drug Testing Company Settles FTC Case Alleging Invitation to Collude

The FTC has entered into a final settlement with Drug Testing Compliance Group LLC (DTC Group) by order issued January 21, 2016, resolving an administrative case that alleged DTC Group had invited a competitor to collude with...more

Employment Law - February 2016

In Equal Pay Push, EEOC to Collect Pay Data From Employers - Why it matters - On the anniversary of the Lilly Ledbetter Fair Pay Act, President Barack Obama announced that the Equal Employment Opportunity Commission...more

Chancery Court Continues to Close the Door on Disclosure-Only Settlements and Fees (But Opens a Window for “Mootness Dismissals”)

As previously discussed here, in 2015, the Delaware Court of Chancery issued a number of decisions calling for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to a shareholder class. ...more

Virginia AG Herring Announces Settlement with Banks Over Alleged Mortgage-Backed Securities Fraud

On January 22, Virginia State AG Mark Herring announced a settlement with eleven banks over their alleged misrepresentation of residential mortgage-backed securities to the Commonwealth of Virginia and the Virginia Retirement...more

What GCs Need to Know About Settling Employment Claims

As we noted in a recent post on another topic, most of the lawyers we know who serve as general counsel are stretched pretty thin. It’s just not possible for them to become expert in all the areas of law they encounter....more

Financial Services Weekly News - February 2015

Regulatory Developments - FDIC Provides Framework for Cybersecurity in Recent Supervisory Insights - The FDIC featured an article titled “A Framework for Cybersecurity” in the Winter 2015 issue of Supervisory...more

Make the Most of your Mediation: The Employment Case

Mediating employment disputes before legal action is filed gives parties an opportunity to settle their differences before incurring impressive attorney’s fees and expending valuable effort. Yet, it’s no easy thing to settle...more

ADA Litigation Over Website Accessibility Is Exploding

Today, it is nearly unthinkable to run a successful business without a website. While companies focus on the appearance, functionality and usability of their sites, they often inadvertently overlook how well the website...more

SEC Settles With 14 Municipal Bond Underwriters

The SEC filed fourteen settled actions against municipal underwriting firms this week. The settlements were part of a program that commenced in 2014 called the Municipalities Continuing Disclosure Cooperation Initiative. The...more

Lyft Multi-Million Dollar Settlement Leaves Classification Question Unsettled

prykhodov © 123RF.com Ride-Sharing service Lyft agreed to pay $12.25 million and provide drivers with certain additional workplace protections as settlement of a proposed class action lawsuit filed in California brought by...more

Rental Pro to Pay $37,000 to Settle EEOC Age Discrimination Lawsuit

Equipment Rental Company Owner Sought 'Younger and Peppier' Employees, Federal Agency Charged - LOUISVILLE, Ky. - Rental Pro, a miscellaneous equipment rental company located in Somerset, Ky., with locations in Hazard,...more

ERISA Plans Should Act To Reinforce Reimbursement Rights In Light Of Recent SCOTUS Decision

Group health plan administrators should take actions to address the recent U.S. Supreme Court decision holding that an ERISA plan cannot enforce its equitable lien, which had been established through the plan’s reimbursement...more

Don’t Let Coverage Issue Delay Settlement

There are a number of steps in-house counsel can take to increase the likelihood of mediation while working with outside counsel on cases defended by carriers. Some mediations directly involve insurance, such as those...more

DOJ Reaches $3.28 Million Stark Settlement with San Diego Hospital

Tri-City Medical Center will pay $3.28 million to settle alleged Stark Law violations that stemmed from financial arrangements with its former chief of staff and paperwork problems in more than 90 of its physician agreements....more

Supreme Court: For ERISA Plans, Time May Be Money

A new U.S. Supreme Court decision is a reminder that Employee Retirement Income Security Act (ERISA) plans must act promptly if they want to assert a lien to secure a participant’s obligation to reimburse medical expenses or...more

Eleven Banks Reach Settlement with Commonwealth of Virginia on RMBS Claims

On Friday, January 22, 2016, eleven banks, including Merrill Lynch, RBS, and Barclays, agreed to settle claims brought by the Commonwealth of Virginia in a 2014 action alleging misrepresentations as to the nature, quality,...more

Ambac and J.P. Morgan Reach $995M RMBS Settlement

On Monday, January 25, 2016, monoline insurer Ambac Assurance Corporation (“Ambac”) reached a $995 million settlement with J.P. Morgan, resolving two RMBS actions pending before Justice Ramos in the Supreme Court of the State...more

Tobacco Settlement Perennially Validates the Wisdom of General Harshbarger

Back in the early-Nineties, 46 attorneys general brought a massive lawsuit against the largest U.S. tobacco companies to recover costs incurred by states in caring for persons afflicted with smoking-related illnesses over a...more

Lehman-JPMorgan Settlement Still Leaves Much Unresolved

On January 25, Lehman and JPMorgan announced a settlement to resolve several aspects of the contentious and multifaceted Lehman-JPMorgan dispute that has lingered throughout Lehman’s bankruptcy. The bankruptcy court will hear...more

House Republicans Level Another Blow at CFPB’s Auto-Lending Policies

Scrutiny of the CFPB’s auto-lending supervision and enforcement practices was renewed last week when Republicans on the U.S. House of Representatives Committee on Financial Services issued another scathing report criticizing...more

Supreme Court Sends ERISA Plans Racing to the Courthouse for Subrogation Recoveries

The Supreme Court of the United States recently handed down a decision that opens the door for participants in ERISA-covered benefits plans to stop a lawsuit against them in its tracks by doing something that most people love...more

FTC Touts Record Yield in Payday Lending Case

Why it matters - A pair of online payday lenders will pay the Federal Trade Commission (FTC) $4.4 million to settle charges that they tricked consumers by failing to disclose inflated fees in what the agency said was...more

SEC Sanctions Alt Fund Asset Manager for Fee Overcharges and Misleading Investors

On January 19, 2016, the SEC settled proceedings against a Denver-based asset manager for material misstatements made in the offer and sale of units of a publicly-registered managed futures fund. The SEC found that the...more

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