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Compliance Hotline
Trustee of WorldCom's 401(k) Plan Did Not Breach Fiduciary Duty
The District Court for the Southern District of New York has ruled as a matter of law that as a “directed trustee” under the Employee Retirement Income Security Act, the fiduciary duties of Merrill Lynch were limited in nature and that by not halting investment in WorldCom stock by the company's 401(k) participants did not amount to a breach of its fiduciary duties. In re WorldCom, Inc. ERISA Litigation, 02 Civ. 4816 (Feb. 1). The plaintiffs were a class of employees who participated in WorldCom's 401(k) plan. They accused Merrill Lynch of breaching its fiduciary duty as a trustee for failing to warn participants about investing in WorldCom stock. Under its contract with WorldCom, however, Merrill Lynch was a “directed trustee” under ERISA.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
When Is a Repair Structural or Nonstructural Under a Commercial Lease?
A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."