Seventh

News May 21, 2019

Huntington Ingalls Latest Company Sued Over Pension Calculations

Huntington Ingalls Industries Inc. shortchanges the pensions of certain retirees by calculating their benefits using an outdated mortality table, according to a proposed class action. The military shipbuilder is at least the seventh large employer to be hit with these allegations in the past months. Similar cases are pending against American Airlines, PepsiCo Inc., MetLife, U.S. Bancorp, …

Legal News Aug 17, 2016

Seventh Circuit Brands Disclosure-Only Settlement a “Racket” and Endorses Delaware Court of Chancery’s Stricter Standard for Approval of Disclosure-Only Settlements

In a 2-1 decision, the Seventh Circuit has joined the Delaware Court of Chancery’s call for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to shareholders. As previously discussed here, M&A litigation, typically alleging breach of fiduciary duty by directors and insufficient disclosures, often ends in settlement, with defendants agreeing to provide …