News & Analysis as of

Fiduciary Duty Class Action Appeals

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Reiterates that Burden of Proving Loss Causation Stays with Plaintiffs

The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary...more

ArentFox Schiff

Cross-Plan Offsetting: Recent Eighth Circuit Opinion Affirms Dismissal of Cross-Plan Offsetting Case Concluding Plaintiffs Did Not...

ArentFox Schiff on

In a recent opinion, Smith et al. v. UnitedHealth Group Inc. et al., the US Court of Appeals for the Eighth Circuit affirmed the dismissal of an Employee Retirement Income Security Act (ERISA) class action suit brought by...more

Mintz - Technology, Communications & Media...

Telephone and Texting Compliance News: Litigation Update — Second and Third Circuits Address Automatic Telephone Dialing Systems;...

In the rapidly evolving landscape of Telephone Consumer Protection Act (TCPA) litigation, recent court decisions continue to provide defendant-friendly clarity as to what technology and platforms constitute automatic...more

McGlinchey Stafford

Can My Agent Bind Me to an Arbitration Agreement with a Third Party? - McGlinchey Commercial Law Bulletin - August 18, 2023

McGlinchey Stafford on

Cincinnati v. PE Alms Hill Realty, LLC, 1st Dist. Hamilton, 2023-Ohio-2784. In this appeal, the First Appellate District affirmed the trial court’s decision to grant commercial lenders summary judgment on their breach of...more

Mintz

Recent Second Circuit Opinion Underscores the Importance of Engaging Experienced Counsel to File and Perfect Class Action Claims

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The U.S. Court of Appeals for the Second Circuit (“Second Circuit”) recently issued an important decision concerning challenging the rejection of claims made by class members in settled U.S. class actions. Contant v. AMA...more

Holland & Hart - Employers' Lawyers

10th Circuit Rejects ERISA Arbitration Provision

Courts have been mixed regarding the enforceability of arbitration provisions in Employee Retirement Income Security Act (ERISA) retirement plans since the U.S. 9th Circuit Court of Appeals’ 2019 decision in Dorman v. Charles...more

Goodwin

Second Circuit Vacates Certification of Nationwide Class in ERISA Lawsuit

Goodwin on

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

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

Goodwin on

IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Goodwin

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity

Goodwin on

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity; Delaware Court of Chancery Dismisses Stockholder Suit Against Medical Device Company for Failure to Plead Demand Futility;...more

Holland & Knight LLP

Courts Split on Class Action Waivers, Arbitration Provisions in ERISA Litigation

Holland & Knight LLP on

Courts have struggled through the years when considering the enforceability of mandatory class action waivers and arbitration provisions contained within Employee Retirement Income Security Act of 1974 (ERISA) plans and other...more

Goodwin

Second Circuit Affirms Dismissal Of ERISA Claims Challenging The Inclusion Of Company Stock In 401(k) Plan

Goodwin on

The U.S. Court of Appeals for the Second Circuit on Thursday, February 4, affirmed the dismissal of an ERISA class-action lawsuit filed against General Electric Company and its former CEO. The complaint had alleged the...more

Seyfarth Shaw LLP

The Seventh Circuit Provides District Courts Ammunition To Deal With “Objector Blackmail” In Proposed Class Settlements

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Seyfarth Synopsis: “Objector blackmail” occurs in the class settlement approval process when a few class members object to a proposed settlement and, after the district court has overruled their objections, pursue appeals...more

Foley & Lardner LLP

Blackmailer Beware: Seventh Circuit Disgorges Class Objectors' Inequitable Settlement Proceeds

Foley & Lardner LLP on

The Seventh Circuit held last Thursday that individuals who object to a class action settlement voluntarily assume a limited fiduciary duty to other class members, which they can breach by settling their classwide objections...more

Parker Poe Adams & Bernstein LLP

U.S. Supreme Court Says Mere Receipt of Plan Disclosures Does Not Provide 'Actual Knowledge' Under ERISA

Last Wednesday, a unanimous U.S. Supreme Court concluded that receipt of participant disclosures and notices does not constitute “actual knowledge” of fees, investment options, and other plan features. Actual knowledge is the...more

Dechert LLP

Three Strikes and You’re in – Supreme Court to Hear Three ERISA Cases in Upcoming Term

Dechert LLP on

The upcoming term of the U.S. Supreme Court is shaping up to be a busy one with respect to cases arising under the Employee Retirement Income Security Act of 1974 (“ERISA”). There have been other terms with multiple ERISA...more

Littler

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Holland & Knight LLP

Tenth Circuit Upholds Great-West Stable Value Win in ERISA Case - Finds That Great-West Not a Fiduciary or Liable as a...

Holland & Knight LLP on

• The U.S. Court of Appeals for the Tenth Circuit affirms a District Court's holding that Great-West Life & Annuity Insurance Co. was not a fiduciary with respect to its stable value fund, even though it announced the fund's...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - March 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between December 2018 and February 2019....more

Holland & Knight LLP

Ninth Circuit: Individual Employment Provision Cannot Compel Arbitration of 409(a) Claim - Ruling Leaves Open Whether Contracts or...

Holland & Knight LLP on

• The U.S. Court of Appeals for the Ninth Circuit's recent decision in Munro v. University of Southern California concluded that an arbitration provision in individual employment contracts could not be used to compel...more

Vedder Price

Investment Services Regulatory Update - September 2017

Vedder Price on

Market and Product Developments - Securities Industry Implements T+2 Settlement Cycle - On September 5, 2017, the securities industry transitioned to a shorter settlement cycle for most broker-dealer securities...more

Mintz - Securities Litigation Viewpoints

Federal Circuit Rules that Starr International Lacks Standing to Pursue Class Claims Stemming from the U.S. Government’s...

On May 9, 2017, the U.S. Court of Appeals for the Federal Circuit (“Federal Circuit”) affirmed in part and reversed in part an earlier decision from the U.S. Court of Federal Claims, which had held that aspects of the...more

Seyfarth Shaw LLP

New York Court Reverses Rejection of M&A Disclosure-Only Settlement Signaling Split from Delaware

Seyfarth Shaw LLP on

Seyfarth Synopsis: On February 2, 2017, the Appellate Division for the First Department in New York entered an order approving a “disclosure-only” settlement. While acknowledging the “increasingly negative view” of...more

Skadden, Arps, Slate, Meagher & Flom LLP

"New York Appellate Court Sets New Standard for Approving Nonmonetary and 'Disclosure-Only' Settlements"

It has become a common phenomenon for the announcement of a significant merger transaction to be quickly followed by shareholder class action or derivative litigation challenging the terms of the transaction and the accuracy...more

Patterson Belknap Webb & Tyler LLP

First Department Adds Two New Factors to New York’s Standard of Review for Non-Monetary Settlements of Shareholder Class Actions

On February 2, 2017, the Appellate Division, First Department issued a unanimous decision in Gordon v. Verizon Communications, Inc., No. 653084/13, 2017 BL 31251 (1st Dep’t Feb. 2, 2017) that may have significant consequences...more

Moore & Van Allen PLLC

NC Bar on Notice: Business Court May Increase Scrutiny for Approval of Disclosure-Only Class Action Settlements & Attorneys’ Fees

Rolling into the new year, North Carolina attorneys are on notice that the ability to gain approval of class action settlements and related attorneys’ fees may become more difficult in some cases. In recent years, we have...more

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