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DOL: Adjusters Not Eligible for Overtime Pay
Insurance claims adjusters are not entitled to overtime pay, according to an opinion letter by the U.S. Department of Labor that may have major impact on the glut of wage-and-hour class actions in the courts. The damages in these cases can be huge, such as 2001's $90 million verdict against Farmers Insurance. While not legally binding, the opinion letter will likely have an effect on pending and future litigation, say attorneys.Rite Aid's Job Surveys Defeat Its Anti-Class Arguments
When California federal Judge Thelton Henderson ruled against Rite Aid last week in an employment suit, certifying a class of more than 1,000 store managers, his decision was based largely on evidence provided by Rite Aid. The suit accuses the drug store chain of improperly classifying managers under California law; in response, Rite Aid twice had store managers complete work questionnaires. The results, Henderson found, proved that the managers share a typical work experience for class purposes.Proposed Merger by Joint Reorganization Gains New Life
Creditors dropped a lawsuit seeking to stop Genesis Health Ventures' proposed takeover of Multicare Cos. Inc., giving new life to what could be the first merger between two bankrupt companies. The unsecured creditors committee in Multicare's Chapter 11 filing agreed to end its suit seeking to block the merger in return for 2.5 percent of the equity in the combined company and 4 percent of the new warrants.Probe Puts Chief Judge on the Spot
Norma Holloway Johnson -- who presided over the grand jury investigation that spurred the impeachment of a president -- is at the center of a controversy that threatens to engulf the federal trial court in Washington, D.C. A panel is investigating whether Johnson, as chief judge of the court, improperly shuttled the criminal prosecutions of well-connected Democrats to judges appointed by President Bill Clinton.Where Will the Troubles End for Sonsini and HP?
Wilson Sonsini Chairman Larry Sonsini, who has plotted his career and his law firm's path to dominance with the precision and focus of a master, found himself this year in a place he never expected to be: testifying before Congress on his role as outside counsel to Hewlett-Packard, caught up in a boardroom spying scandal. Sonsini and his firm have faced criticism before -- over alleged conflicts and investments in client stock -- but now they face a crisis that might not blow over.N.Y. Federal Judge Exposes White-Collar Dealmaking in KPMG Case
After his latest round of hearings in the KPMG tax shelter case, Southern District of New York Judge Lewis Kaplan ordered lawyers for the 16 former KPMG partners or employees who are defendants to submit affidavits disclosing who had referred their clients to them. The judge's extended investigation of the KPMG prosecution has thrown a spotlight on KPMG's lead outside counsel, Skadden Arps partner Robert Bennett -- exposing defense tactics usually confined to the shadows of white-collar dealmaking.Wave of IBM Suits Reaches Trial
After seven years of pretrial litigation, William DeProspo and Steven Phillips will soon go before a jury. The lawyers' journey began with an IBM employee's belief that his cancer diagnosis stemmed from work at an IBM semiconductor plant. Ex-workers or their families have since brought some 200 suits against IBM and chemical makers; the case going to trial in March alleges the chemical exposure caused birth defects in workers' children.Dissident Shareholders Up Their Demands, Fuel Legal Work
Activist and dissident shareholders, particularly hedge funds, are boosting corporate legal work as boards of directors cope with demands from sophisticated investors and proxy contests when those investors seek a board seat. The activists want changes to increase shareholder returns. And as lawyers help companies grapple with increased activism, they also expect proposed rule changes for proxy contests to heighten activist investors' leverage -- by easing board election hurdles faced by outsiders.Trending Stories
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