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Part 7: Securities Fraud: When "good" Investments Disappear The nest egg stories Cases of investment and securities fraud come in many sizes. It is hard not to feel for middle aged and older individuals who have seen their life savings and pension investments shrivel or disappear while under the supposedly watchful eye of some third party.
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The Gig Economy v. Assembly Bill 5San Jose, CA When the Assembly Bill 5 (AB 5) was signed in September 2019, Uber and Lyft said they'd sponsor a ballot initiative to take the issue to California voters in November 2020. To date, over $110 million has been raised and more than a million signatures collected to sponsor the initiative known as the "Protect App-Based Drivers and Services Act", which could exempt some companies from AB5 written into the California labor law. Labor and employment lawyer Michael Warren with the McManis Faulkner law firm says Uber and others will need more than money and signatures.
California Sues Uber and LyftSan Francisco, CA On May 5, Attorney General Xavier Becerra filed a lawsuit on behalf of the State of California alleging that Uber and Lyft have misclassified on-demand drivers as independent contractors in violation of the California Labor Code, Wage Orders and Unemployment Compensation laws.
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Zantac JUUL Mesh Hips Talc Roundup CA LaborAAJ? Some California Food Workers Choose between COVID-19 exposure or lost wages—will worker safety lawsuits follow?Sacramento, CA Food sector workers are mostly front-line workers. From farmers to food processors to grocery store clerks, they continue to work to ensure the state’s 40 million residents have enough food during this crisis. And they continue to work even when co-workers have tested positive for COVID-19. If not, they could get fired, despite a new California labor order that provides sick leave for full-time workers exposed to the virus. Are worker safety lawsuits on the horizon?
Putnam Investments to Settle 401k Self-Dealing Lawsuit for $12.5 MillionBoston, MA Participants in the Putnam Retirement Plan have agreed to settle their ERISA lawsuit against Putnam Investments and other Plan fiduciaries for $12.5 million and certain prospective changes in plan administration. Following close on the heels of the U.S. Supreme Court’s decision not to review the lower court’s determination, the settlement leaves open two important questions that arise in countless 401k mismanagement lawsuits. But by keeping these issues alive, the end of
Brotherston v. Putnam Investments represents a qualified victory for 401k plan participants.
Employment Discrimination based on Perceived Sexual OrientationNew York, NY Vincent White, a partner at White, Hilferty and Albanese, spoke recently with LAS about the thorny problem of employment discrimination based on an employer’s perception (or misperception) of an employee’s sexual orientation. The hardest problem, according to White, is that the discriminatory comment or action often happens behind closed doors, with no witnesses. “It’s an elevator situation,” said White. “The doors close; the offense happens; and the doors open with no one the wiser, except the employer and a very shocked employee.”
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