At least three US-based law firms sent out statements on Saturday saying they would initiate class-action lawsuits against Infosys for unlawful business practices, an exercise that is not uncommon with US-listed companies every time they go through a change, especially in the case of mergers and acquisitions. A day after Infosys chief executive Vishal Sikka stepped down from his role at India’s …
President Donald Trump’s Department of Labor moved one step closer to putting the brakes on the agency’s fiduciary rule for retirement investment advisers late Feb. 9. The agency sent to the White House’sOffice of Management and Budget a proposal to delay the rule’s applicability date, one week after Trump ordered the agency to review the Obama-era rule that aims to protect retirement investors …
Assuming the Department of Labor’s fiduciary rule survives the river of legal and legislative challenges, the brokerage industry should expect to absorb between $70 million and $150 million annually in class-action litigation costs. The price-tag range, calculated by Morningstar senior equity analyst Michael Wong, is on top of the $1.5 billion annual cost to the industry, as estimated by the …
Republican legislative leaders have voted to hire private attorneys to appeal a court ruling that found Wisconsin’s legislative districts are unconstitutional. The GOP plan would hire the law firms Kirkland & Ellis LLP and Bell Giftos St. John LLC, “and any other firms, entities or counsel deemed necessary for services related to the matter of Whitford v. Gill and legislative redistricting and …
The blessing and curse of automated dialing is that robocallers operate without human assistance. That’s great if the goal of the call is, say, to tell parents of schoolkids about a snow day. But a new class action in federal court in Ft. Worth, Texas, suggests that robocalls just might not be the best way to drum up clients in mass tort litigation.
Law.com reports that a Chadbourne & Parke litigation partner, Kerrie Campbell, has filed a $100 million class action lawsuit against the firm on behalf of current and former female partners, alleging gender discrimination: The suit alleges that female partners have been excluded from positions with decision-making authority, and help;
The Fair Labor Standards Act of 1938, or FLSA, protects workers by (1) requiring a minimum wage, (2) mandating overtime pay for work exceeding 40 hours in a workweek, (3) prohibiting child labor, and (4) requiring employers to keep accurate time records. There’s a problem, though. Consider an individual worker with a solid wage claim.
Lawyers dream about doing little to no work and getting paid a fortune for the work they didn’t do. A group of hotshot securities lawyers recently was on the verge of just such a payday. They stood to collect $370,000 in legal fees for work that didn’t benefit their clients one iota.
A US JUDGE has given the go-ahead for a $1bn lawsuit against PwC over claims the firm provided bad accounting advice which contributed to the 2011 collapse of MF Global. MF Global and its parent company, MF Global Holdings Ltd, collapsed in October 2011 after investors left the firm on learning about risky bets on sovereign debt taken by former chairman and New Jersey Senator Jon Corzine. In a …
The bill for a lawsuit over raises for county officials continues to grow. As of July 28, Onondaga County had paid $154,340.82 to outside lawyers to defend a lawsuit from another elected official. In January, County Comptroller Bob Antonacci sued 19 county officials over the raises approved last year.