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
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