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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.
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Ninth Circuit Affirms $54.6 Wage Award for Walmart TruckersSan Francisco, CA On January 6, the Ninth Circuit affirmed a $54.6 million jury award for Wal-mart's truck drivers under the provisions of California labor law. Wal-mart had challenged the 2016 District Court decision in
Ridgeway v. Walmart, Inc. on a variety of grounds, including lack of jurisdiction, the certification of a class of similarly situated plaintiffs and the applicability of the Federal Aviation Administration Authorization Act of 1994.
New Research: Brief Heat Exposure Increases Zantac Cancer OddsWashington, DC Emery Pharma, a California-based testing laboratory has reported that Zantac appears to produce unacceptably high levels of cancer-causing N-Nitrosodimethylamine (NDMA) when exposed to heat for as little as five days. Brief periods of modestly inadequate temperature control can easily occur during transport, storage or even in consumer’s home. These findings have sparked new calls for a U.S. Food and Drug Administration recall of Zantac and related generic drugs and will likely fuel class action Zantac cancer lawsuits (ZANTAC) already underway.
U.S. Supreme Court to Hear Oral Arguments in ERISA Breach of Fiduciary Duty LawsuitWashington, DC On January 13, the U.S. Supreme Court will hear oral arguments in
Thole v. U.S. Bank, NA, an ERISA lawsuit (ERISA) that has major implications for the rights of participants and beneficiaries to sue plan sponsors under the basic legal framework of ERISA. The defendant plan sponsor will argue that the plaintiff retirees have no standing to sue over alleged breaches of fiduciary duty because they have not suffered any individual financial loss. The defendant plan sponsor will ask the Court to affirm an Eighth Circuit decision that limits participants’ rights to oversee investment management decisions.
Disneyland Workers file a lawsuit alleging they aren’t paid Minimum WageAnaheim, CA All Disney employees are entitled to minimum wage, from bellhop to barista, Mickie and Minnie. But five current and former workers claim that the entertainment behemoth has violated the California labor law by failing to pay its workers minimum wage, failing to pay overtime and all wages owed at termination.
California Uber Drivers Survive Motion to Dismiss, Lose Preliminary InjunctionSan Francisco, CA On December 16, Judge Edward Chen of the Northern District of California denied Uber’s Motion to Dismiss a class action California labor lawsuit that claims Uber drivers were misclassified as independent contractors under standards set out in
Dynamex Operations West, Inc. v. Superior Court. However, in
Colopy v. Uber Techs Inc., Judge Chen also denied the drivers’ Motion for a Preliminary Injunction. The injunction would have required the ride-hailing giant to begin to treat drivers as employees immediately.
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