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New ruling broadens “whistleblower” definition for Dodd-Frank anti-retaliation claims

Alston & Bird LLP
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USA
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October 3 2012

A U.S. district court judge from the District of Connecticut ruled last week that individuals who make disclosures that are required or protected under the Sarbanes-Oxley Act (SOX) or the Securities Exchange Act of 1934 (SEA) may also qualify as whistleblowers under the Dodd-Frank anti-retaliation provisions, regardless of how those disclosures were made

Seventh Circuit affirms trial judgment for defendants in Indianapolis Power & Light 401(k) stock-drop case

Alston & Bird LLP
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USA
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January 14 2008

On January 2, 2008, the Court of Appeals for the Seventh Circuit upheld a defense judgment in a 401(k) employer stock case following a bench trial on breach of fiduciary claims

Third Circuit affirms dismissal of 401(K) “stock-drop” case

Alston & Bird LLP
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USA
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September 27 2007

The United States Court of Appeals for the Third Circuit has affirmed the dismissal of a case against our client Avaya Inc., in which plaintiff alleged defendants breached their fiduciary duty by (1) imprudently offering employer stock as an investment option to 401(k) plan participants and (2) failing to disclose material information to those plan participants

Fourth Circuit affirms trial judgment for defendants in US Airways 401(k) stock-drop case

Alston & Bird LLP
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USA
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August 7 2007

On August 1, 2007, the Court of Appeals for the Fourth Circuit upheld a defense judgment in a 401(k) employer stock case following a bench trial on breach of fiduciary claims

Court of Appeals of New York issues seminal decision on absolute privilege against defamation claims for Form U-5 disclosures

Alston & Bird LLP
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USA
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March 30 2007

The Court of Appeals of New York in Rosenberg v. Metlife, Inc., ___ N.E.2d ___, 2007 WL 922920 (N.Y. Mar. 29, 2007), has just issued an important decision that protects NASD member firms from the burden and risk of vexatious defamation claims brought by terminated employees (associated or registered persons) based on statements made by the member firms on NASD employee termination notices (Form U-5

Fifth Circuit panel reverses class certification in 401(k) stock drop litigation

Alston & Bird LLP
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USA
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February 7 2007

On January 18, 2007, the Fifth Circuit Court of Appeals reversed the Eastern District of Texas’ certification of a class action against Electronic Data Systems, Corp. (“EDS”) in a 401(k) employer stock ERISA litigation