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 …
Bosch said Wednesday it would “continue to defend its interests in all other civil and criminal law proceedings and to cooperate comprehensively with the investigating authorities in Germany and in other countries.” Volkswagen held powerful sway over Bosch, based on the accounts in the lawsuits. The carmaker was one of Bosch’s biggest customers, with a relationship dating from the early days of …
The number of wage and hour class lawsuits filed in federal court dipped slightly during 2016, but employers should expect a rebound in 2017, according to a management lawyer who tracks workplace class actions.
The 8,304 Fair Labor Standards Act collective actions filed was down, compared with 8,954 such lawsuits filed in 2015, said Gerald Maatman, a Seyfarth Shaw LLP partner who is co-chair of the firm’s class action litigation practice group. But the 2015 figure was the highest since the firm formally began tracking employment law class actions in 2004, and the 2016 total is the second-highest, Maatman told Bloomberg BNA. The top 10 wage and hour settlements reached in 2016 totaled $695.5 million, up from $463.6 million in 2015, Maatman said. The long-term growth in class lawsuits against employers alleging violations of minimum wage, overtime and other wage and hour requirements isn’t stopping anytime soon, he said. The Trump administration could …
United States Court of Appeals for the Ninth Circuit has ruled that the warranty booklet in the box of Samsung smartphone will not be used to stop the class action lawsuit. The court decided that two class action lawsuits from the Samsung customer to proceed. The Court of Appeals has rejected Samsung request to settle lawsuits in the private arbitration.
A federal judge on Wednesday approved a court settlement in which Menzies Aviation must pay nearly $8.2 million to resolve the claims of thousands of workers who said they were paid less than $15 an hour after SeaTac’s minimum-wage law went into effect. U.S. District Judge Robert Lasnik in Seattle approved the class-action settlement, which had been reached in September . That means checks to …
Volkswagen AG and former Chief Executive Officer Martin Winterkorn must defend an investor lawsuit in California over the company’s diesel emissions cheating scandal, a U.S. judge has ruled. The plaintiffs, mostly U.S. municipal pension funds, have accused VW of not having informed the market in a timely fashion about the issue as well as understating possible financial liabilities, according …
San Francisco-based Wells Fargo Bank (WFC), one of the largest banks in the US, is trying to push its customers to resolve the lawsuits that they are bringing over the opening of unauthorized accounts through private arbitration, instead of in a courtroom, according to legal documents filed Wednesday. The bank asked the US District Court in Utah to order dozens of customers to settle their …
On Friday a federal judge dismissed two wrongful death lawsuits against the WWE. The lawsuits stemmed from the families of two former WWE wrestlers that believed their deaths were caused by traumatic brain injuries they suffered while working for the company. The families of Nelson Frazier (Mabel, Viscera and Big Daddy V) and Matt Osborne (Doink The Clown) alleged in their lawsuits that the WWE …
Valley attorneys and business owners are raising questions about the non-profit status of a controversial group that’s become the nation’s most prolific filer of disability lawsuits. Advocates for Individuals with Disabilities (AID) has filed more than 1,700 lawsuits in the Phoenix area since February. Almost all of the lawsuits are filed over signage issues in parking lots and allege …
After an election, a president-elect has an enormous amount of work to do. The period between Election Day and Inauguration Day flies by, and an incoming leader has to assemble a team, receive policy briefings, put an agenda in place, and attend a seemingly endless stream of meetings. In Donald Trump’s case, there’s another part of his upcoming schedule that most presidents-elect don’t have to …