TRENDS IN SECURITIES LAW AND CORPORATE GOVERNANCE
Inside This Issue...
The Supreme Court holds that ERISA Trustees have a Continuing Duty to Monitor Retirement Plan Investments in Tibble v. Edison
In a win for employees and retirees, the Supreme Court issued a unanimous decision in Tibble v. Edison on May 18, 2015, holding that under the Employee Retirement Income Security Act (“ERISA”), trustees of a retirement plan have a continuing duty to monitor the plan’s investments. The full article can be read here.
Following a two week trial, Federal Court Enters $15 million judgment in Severstal Wheeling, Inc. Retirement Plan Litigation
On August 10, 2015, the U.S. District Court for the Southern District of New York issued a trial decision in Severstal Wheeling, Inc. Retirement Committee et al v. WPN Corporation, following a bench trial, entering a judgment of more than $15 million in favor of the Plaintiffs, who were represented by Cohen Milstein. The full article can be read here.
Supreme Court Asked to Endorse Cynical Defense Tactic that Could Moot Certain Class Actions
This month, the Supreme Court heard oral arguments in a case that could sharply curtail the ability of plaintiffs with modest individual losses to sue corporate wrongdoers collectively. In Campbell-Ewald Company v. Gomez, the Justices are being asked to endorse a cynical tactic by which defendant companies offer to pay full compensation to the proposed lead plaintiff for their individual claim, then argue that the offer, whether or not accepted, renders the entire class action moot. The full article can be read here.
The full November 2015 issue can be read here.