A hearing on the pension plans’ motion to intervene as defendants is scheduled for June 17. “As things stand, this litigation presents a truly anomalous scenario: Johnson & Johnson is the only party defending shareholders’ right to bring a class action against Johnson & Johnson,” the pension plans’ motion states. Together, CalPERS and Colorado PERA own 10 million shares of Johnson & Johnson …
Massachusetts Financial Services Co. agreed to settle a class action by employees challenging the affiliated mutual funds in their 401(k) plans. The lawsuit accuses MFS of mismanaging the plans, which together hold more than $500 million, by offering high-cost funds affiliated with the company and by failing to investigate lower-fee options. More than 99 percent of the plans’ assets were held …
Multiple irrigators claim the federal government’s plans for two Klamath-area national wildlife refuges unlawfully restrict farmed acres and agricultural practices. In the final days of the Obama administration, the U.S. Fish and Wildlife Service issued plans for managing several refuges in the Klamath basin over the next 15 years.
Navient, a company that derived from Sallie Mae, has more than 12 million customers and services more than $300 billion of government and private student loans. In January, a lawsuit was filed against the student loan lender where the Consumer Financial Protection Bureau (CFPB) alleged that Navient “systematically and illegally failed borrowers at every stage of …
UnitedHealth Group is one insurer offering Medicare Advantage plans, which cover about one third of people on Medicare. The Justice Department has joined a California whistleblower’s lawsuit that accuses insurance giant UnitedHealth Group of fraud in its …
Calling it a classic “bait and switch,” a California consumer group on Tuesday lashed out at Anthem Blue Cross of California, claiming it failed to adequately warn customers they were being shifted in 2017 to brand-new, stripped-down plans. Santa Monica-based Consumer Watchdog announced it has filed a class action lawsuit against the health insurance giant after Anthem moved hundreds of …
Chipotle is setting aside its problems and going on a hiring spree. The company, which has struggled in recent months with an E. coli outbreak and a lawsuit accusing it of mistreating workers, plans to offer jobs to 5,000 people across the country on Sept. 28. A spokesman said Chipotle needs the staff as it opens more than 200 of its Mexican-style restaurants this year.
The University of Pennsylvania is one of several universities being sued by employees amid allegations that the schools’ retirement plans come with excessive fees. In addition to the University of Pennsylvania, complaints were filed on behalf of employees of Duke University, Johns Hopkins University and Vanderbilt University. Before the latest round of complaints, lawsuits were …
A federal appeals court in California on Monday dismissed a U.S. government lawsuit that accused AT&T of deception for reducing internet speeds for customers with unlimited mobile data plans once their use exceeded certain levels. The company, however, could still face a fine from the Federal Communications Commission regarding the slowdowns, also called “data throttling.” The U.S. …
This month Penn joined a familiar list of peer universities — including Duke, Harvard and Yale — in a lawsuit over employee retirement plans. The class action lawsuit claims that University retirement plans have been charging fees that are too high for school employees. All of the schools involved are being accused on the grounds that they all use several providers, as opposed to one, to manage …