Sears Holding Corp’s board of directors and chairman/CEO Eddie Lampert have agreed to a $40 million settlement of a shareholder lawsuit against Lampert himself, Reuters reports. The lawsuit, filed against Lampert, directors and the real estate investment trust (Seritage Growth Properties) that holds much of the struggling retailer’s most valuable real estate, claimed Lampert, whose …
Class-action suits can cost employers millions of dollars. Uber is awaiting a court decision on its own settlement proposal that would amount to a $1 per claimant. Uber drivers sued the company over wages and for allegedly misclassifying them as independent contractors instead of employees.
According to a statement from Jim Mulhern, president and CEO of the National Milk Producers Federation, the group is settling the suit to put the issue behind them and move on to other issues. “It is important to note that the court has found no antitrust violation and CWT makes no admission of wrongdoing in this settlement. The activity at issue in this litigation — the herd …
Dive Brief: Dive Insight: Critics of the rule, including Attorneys General from several of the states in the lawsuit, say if the rule takes effect on time, the result will have disastrous economic repercussions. Business groups — from the hospitality industry to the “prestige”-type workers — also have complained, saying the rule will force employers to shift salaried employees to hourly pay as …
The 9th U.S. Circuit Court of Appeals in San Francisco ruled 2-1 against EY, making it the second appellate court to support the NLRB’s position that federal labor law prohibits workers’ arbitration agreements from including class action waivers. On the other hand, two appellate courts have rejected the NLRB’s view, making it likely that the U.S. Supreme Court will …
With some of the universities named in the lawsuits holding more than 400 fund options managed by five or more record keepers, universities will have a difficult time wading through details of each fund to determine if and how they could have noticed trends of investment underperformance. But with higher education at large struggling to maintain endowment gains, and …
While elite colleges and universities may have sizable endowments, pension funds are not in the same state of health, which can lead to difficult positions for institutional spending and personnel management decisions. The University of the Cumberlands is a prime example of financial promises made to a former president to reward years of good service, only to rescind …