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BOEING DEFENDANTS IN STOCK DROP LAWSUIT CLAIM THEY WERE NOT FIDUCIARIESChicago, 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.
Overlooked, Underpaid California Workers Face Dire Coronavirus RiskSacramento, CA On March 19, Gov. Gavin Newsom ordered all Californians to stay home except for workers essential to health care, public safety, food, agriculture and media. Those who can work remotely may be juggling work and children. Laid off and furloughed workers are looking at reduced paychecks, even with the wage and benefit protections of federal and California labor law. Independent contractors and the self-employed may be looking at even worse circumstances.
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.
Zantac Cancer Lawsuits Move to MDL PhaseWest 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.
California Labor Law and COVID-19: Top questions asked by California WorkersSan Francisco, CA Putting into place public health measures to deal with COVID-19 also raises a number of California labor law issues. Employers are scrambling to navigate a new workplace, which could mean their employees working from home. And employees are anxious to understand their legal rights. Here are the top FAQ’s asked by employees.
TIAA ERISA LAWSUIT TARGETS SELF-DEALING IN LOAN ADMINISTRATIONNew 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.
First Saving Bank Hit with Excessive Overdraft Fee LawsuitLas Cruces, NM On January 14, Bonnie Becker, doing business as Oma’s Slice of Heaven, filed a class action lawsuit in New Mexico federal district court, claiming that First Savings Bank assessed bank overdraft fees even when the transactions in question did not overdraw the account.
PricewaterhouseCoopers to Settle Age Discrimination Lawsuit for $11.6 MillionSan 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.
Veterans Can Still File 3M Earplug Lawsuits and Bellwether Trial Coming UpSanta Clara, CA Many veterans wrongly believe they cannot file a lawsuit against 3M after the company reached a $9.1 million settlement with the Department of Justice in July 2018 to resolve claims that it defrauded the government by knowingly selling the defective earplugs. But that $9.1 million dollars 3M paid did not go to the service members affected. 3M earplug lawsuits are still being filed and reviewed by attorneys and the first bellwether trials have been slated.
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