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April 1, 2020
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Part 7: Securities Fraud: When "good" Investments Disappear
Part 7: Securities Fraud: When "good" Investments Disappear
The nest egg stories Cases of investment and securities fraud come in many sizes. It is hard not to feel for middle aged and older individuals who have seen their life savings and pension investments shrivel or disappear while under the supposedly watchful eye of some third party.

Latest Lawsuit News & Legal Information

BOEING DEFENDANTS IN STOCK DROP LAWSUIT CLAIM THEY WERE NOT FIDUCIARIES
BOEING DEFENDANTS IN STOCK DROP LAWSUIT CLAIM THEY WERE NOT FIDUCIARIES
Chicago, IL On March 2 attorneys for Boeing, its 401k retirement plan and the plan’s investment committee asked the District Court for the Northern District of Illinois to dismiss Burke v. The Boeing Co. The defendants claim that Newport Trust Co., the plan’s investment manager, was solely responsible for any losses incurred by participants in the Boeing Voluntary Investment Plan (VIP) when the value of Boeing’s stock dropped in the aftermath of the 737 MAX 8 aircraft disasters. Newport was not named as a defendant in the ERISA lawsuit.

Can Coronavirus and Lawsuits Vaporize E-cigarettes?
Can Coronavirus and Lawsuits Vaporize E-cigarettes?
Santa Clara, CA Coronavirus and e-cigarette use have one thing in common: they harm the lungs. And as of March 2020, hundreds of Juul e-cigarette lawsuits have been combined in a California federal court, with many more complaints expected.

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Zantac Cancer Lawsuits Move to MDL Phase
Zantac Cancer Lawsuits Move to MDL Phase
West Palm Beach, FL Zantac cancer lawsuits will be consolidated in multidistrict litigation in the U.S. District Court for the Southern District of Florida. At the time of its formation on February 6, the MDL included 15 cases. An additional 126 cases were pending in 21 districts nationwide, and more plaintiffs are expected to join. The consolidated lawsuit will include cancer injury claims and consumer class actions against defendants who manufactured, sold or distributed Zantac and other ranitidine medications.

TIAA ERISA LAWSUIT TARGETS SELF-DEALING IN LOAN ADMINISTRATION
TIAA ERISA LAWSUIT TARGETS SELF-DEALING IN LOAN ADMINISTRATION
New York, NY Retirement plan participants who are concerned that plan administrators and service providers may be running the plan for their own benefit can extract three important lessons from Haley v. Teachers Ins. & Annuity Assoc. of America. First, the possibility that plan fiduciaries and record keepers may be engaged in self-dealing is a very hot topic. These ERISA lawsuits may involve thousands of retirement plans and exponentially more retirement savers. That many plaintiffs can spell huge liability for those who manage a plan. Second, the success of these lawsuits depends on being granted class action status; and finally, the issue of who is a fiduciary and why it matters is often central when it comes to allegations of self-dealing.

PricewaterhouseCoopers to Settle Age Discrimination Lawsuit for $11.6 Million
PricewaterhouseCoopers to Settle Age Discrimination Lawsuit for $11.6 Million
San Francisco, CA On March 3, PricewaterhouseCoopers, LLP (PwC) offered to settle a lawsuit brought under the Age Discrimination in Employment Act (ADEA) and California labor law. The lawsuit claims the accounting giant systematically discriminated against job applicants older than 40. The settlement offer includes payment of $11.625 million and a promise to remedy discriminatory hiring practices in the future.

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