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Part 7: Securities Fraud: When "good" Investments Disappear The nest egg stories Cases of investment and securities fraud come in many sizes. It is hard not to feel for middle aged and older individuals who have seen their life savings and pension investments shrivel or disappear while under the supposedly watchful eye of some third party.
Latest Lawsuit News & Legal Information
The Obstacle Course to Bayer Monsanto’s Roundup SettlementsSanta Clara, CA Almost 43,000 plaintiffs claiming that Bayer’s Monsanto Roundup weed killer caused their non-Hodgkin's lymphoma have been told by their attorneys that several obstacles must be overcome before reaching the finish line -- the settlement. Bayer says the Roundup settlement may total $10 billion, which makes it one of the most complex and costliest litigations—but still not close to
Apple v. Samsung ($40 billion) and the BP Oil Spill ($42 billion).
Judge to Uber on AB5: That Means You, Too, and NowLos Angeles, CA On February 10, the District Court for the Central District of California denied a motion for injunction that would halt enforcement of California’s Gig Worker Law against Uber and Postmates while both companies challenge the law’s constitutionality. The decision means that both companies must begin to treat workers as employees in accord with California labor law--and entitled (with few exceptions) to the benefits of California’s prevailing wage laws.
3M Earplug Lawsuits Filed by Veterans MountingMaplewood, MN As of January 2020, approximately 1,000 defective earplug lawsuits, filed by over 2,000 U.S. veterans were transferred to the MDL court in Florida. All plaintiffs claim that 3M, the manufacturer, knew the earplugs worn by vets during combat in Iraq or Afghanistan or while training on U.S. military bases would result in hearing loss and/or tinnitus.
Supreme Court Sends IBM Stock Drop ERISA Lawsuit Back to Second CircuitWashington, DC On January 14, the Supreme Court sent
Retirement Plans Committee of IBM v. Jander, a much-watched ERISA lawsuit, back to the Second Circuit for further consideration of defensive arguments raised by the plan administrators. The decision is a setback, although perhaps not a fatal one, for participants in employee stock ownership plans (ESOPs) who claim that they have been injured because of corporate financial fraud. These “stock drop” lawsuits are one of several different kinds of 401k fiduciary mismanagement lawsuits.
Follow-up with California Labor Commissioner’s Office after Wage Theft FinesPasadena, CA After an employee at the Chapala Bakery complained about California labor violations, specifically wage theft, a joint investigation with Pasadena officials and the California Department of Industrial Relations (DIR) followed by several meetings held with Pasadena officials and the bakery business owner, the bakery was fined more than $80,000.
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