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Standards For Appointing Class Counsel Under Rule 23(g)

Sheinberg v. Sorensen (606 F.3d 130, 2010 U.S. App. LEXIS 10922 [3d Cir. May 28, 2010]) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ] explores the relationship between Federal Rule of Civil Procedure Section 23(g), concerning appointment...

Supreme Court Says ERISA Permits District Court To Reform Pension Plan

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on May 16 ruled that although Section 502(a)(1)(B) of the Employee Retirement Income Security Act does not permit a district court to reform the terms of a pension plan, Section 502(a)(3) does authorize such relief ( CIGNA Corporation, et al. v...

Bank Of America To Pay $2.43 Billion To Settle Securities Class Action Lawsuit

NEW YORK - In what is being called the largest settlement of a credit-crisis-related securities class action lawsuit, Bank of America Corp. (BoA) has agreed to a $2.43 billion settlement on claims that it and certain of its executive officers and directors misrepresented the company's business and...

Williams Mullen: Retirement Plan Plaintiffs Were Not Required To Exhaust Administrative Remedies Before Filing Their Class Action

By Mark S. Thomas and Robert W. Shaw The Second Circuit has held that a putative class of ERISA plaintiffs was not required to exhaust a plan's administrative remedies prior to filing claims for a redetermination of future retirement benefits and alleged irregularities in plan amendments. Kirkendall...

Williams Mullen: Retirement Plan Plaintiffs Were Not Required To Exhaust Administrative Remedies Before Filing Their Class Action

The Second Circuit has held that a putative class of ERISA plaintiffs was not required to exhaust a plan's administrative remedies prior to filing claims for a redetermination of future retirement benefits and alleged irregularities in plan amendments. ...

Final Approval Of $2.4Billion Settlement Granted In Bank Of America Securities Suit

NEW YORK - (Mealey's) A federal judge in New York on April 5 granted final approval of a $2.4 billion settlement between shareholders and Bank of America Corp. (BoA) to settle claims that it and certain of its executive officers and directors misrepresented the company's business and financial...