Reed Smith LLP | USA | 2 Mar 2009
This morning, March 2, 2009, American International Group, Inc. ("AIG") announced a loss of $61.7 billion for the fourth quarter of 2008, a total net loss for 2008 of $99.29 billion, and a major restructuring of its operations, including a new federal infusion of $30 billion, forgiveness of certain debts, and relaxation of prior bailout terms.
Reed Smith LLP | USA | 24 Jun 2008
On June 19, the U.S. Supreme Court issued a decision in MetLife v. Glenn.
Reed Smith LLP | USA | 23 Jun 2008
On June 29, 2008, the Supreme Court issued its opinion in Metropolitan Life Insurance Company v. Glenn, in which the Court considered the effect of conflict of interest on judicial review of a benefit decision when an ERISA plan grants discretion to an insurer to determine eligibility for benefits.
Reed Smith LLP | USA | 20 Jun 2008
Adding to a series of recent employment law cases decided by the United States Supreme Court, the Court issued three more opinions affecting employment law on June 19, 2008: two interpreting the Age Discrimination in Employment Act of 1967 (“ADEA”) and one concerning the Employee Retirement Income Security Act of 1974 (“ERISA”).