On June 30, 2023, Trinity College posted a notice on its website describing two third-party data breaches that may impact confidential information belonging to Trinity College students, faculty and staff members. Evidently,...more
On December 1, 2022, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s decision to certify a class of more than 200,000 retirees alleging that collateralized loans serviced by the...more
On December 1, 2022, the US Court of Appeals for the Second Circuit vacated a district court’s certification of a nationwide class of 8,000+ retirement plans serving hundreds of thousands of participants in an ERISA action...more
A New York federal court recently held that a service provider for employer-sponsored retirement plans was not liable as a fiduciary under the Employee Retirement Income Security Act (“ERISA”) when it used participant...more
The U.S. Securities and Exchange Commission (SEC) announced that TIAA-CREF Individual & Institutional Services LLC, (TC Services) that is a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay...more
CYBERSECURITY - Ticketmaster Hit With Malware Compromising UK Customers’ Data - Ticketmaster has reported that it has “identified malicious software on a customer support product hosted by Inbenta Technologies, an...more
On June 27, 2018, the State of Connecticut Treasurer’s Office announced that about $1.4 million had been stolen from Connecticut Higher Education Trust (CHET) college-savings accounts. This theft resulted from data security...more
Targeting Educational Institutions - Since August, 2016, sixteen institutions of higher education with large retirement plans have become targets of federal lawsuits for breach of fiduciary duty under ERISA. To date, the...more
Proxy Access - 2015 was a turning point for shareholder proposals seeking to implement proxy access, which gives certain shareholders the ability to nominate directors and include those nominees in a company’s proxy...more
Rhonda Brauer is a senior managing director of corporate governance at Georgeson Inc. where she helps companies enhance their shareholder communications and analyze their governance practices. She recently joined Latham &...more
Proxy access has suddenly leap-frogged to the top of seemingly everyone’s corporate governance list after various setbacks over the past few years. In fact, a March 17th Wall Street Journal article quoted Anne Simpson, head...more
This article in the WSJ observes that there appears to be a major shift in the viability of proxy access, as a growing number of companies are adopting bylaw amendments or are expected to submit the matter to shareholder...more
Renewable Energy Focus - Another solar record set, renewables power nearly quarter of California: KCET - May 20 -- Yet another milestone in California's quest to go solar: the state's industrial-sized solar power...more
TIAA-CREF, a financial services company with over $500 billion in assets under management, has made employee engagement a priority. Its Head of Organizational Effectiveness, Josh Greenwald, agreed to share what his company...more
We try to alert our clients when we begin to see a trend developing. One trend our benefits attorneys have been addressing for private school clients is the fact that their third-party plan auditors have found that schools...more