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Latest from Proskauer Rose LLP

Employee Benefits & Executive Compensation Blog

District Court Dismisses Investment and Recordkeeping Claims Against 401(k) Plan Fiduciaries

By Tulio Chirinos & Jessica Guarracino

September 22, 2021

A Kentucky federal district court ruled that a participant in CommonSpirit Health’s 401(k) plan failed to state plausible claims for breach of fiduciary duty related to the fees and performance of actively managed target date funds and recordkeeping fees. The court first rejected plaintiff’s claim that the plan fiduciaries should have offered a passively managed target date suite in lieu of a more expensive and underperforming actively managed target date suite because “actively managed funds…

Proskauer For Good

Top 7 Best Practices for Representing Transgender and Nonbinary Pro Bono Clients

By Erin Meyer

September 21, 2021

Transgender and nonbinary individuals are often among the most marginalized communities we serve as pro bono lawyers. In the US and abroad, transgender and nonbinary people have faced a history of discrimination in employment and housing, unequal access to healthcare, and violence. Indeed, as the Human Rights Campaign has reported, 2020 was the deadliest year on record for transgender and gender non-conforming people – and especially for transgender women of color, dozens of whom were…

Corporate Defense and Disputes

Northern District of California Dismisses Derivative Lawsuit Alleging Online Child Privacy Law Violations

By Erica T. Jones

September 21, 2021

The acronym “ESG” is shorthand for environmental, social, and governance concerns. In recent years, companies have used “ESG” to refer to initiatives involving climate change, responding to racial injustice, and supporting workers’ rights. The “S” in ESG can be a bit nebulous, however, as “social” may refer to any number of issues affecting a corporation, its stakeholders, and the community at large. For example, children’s privacy has always been a hot button social issue, but…

Employee Benefits & Executive Compensation Blog

EPCRS Update Offers New Tools to Correct Retirement Plan Errors

By Steven Weinstein & Jennifer Rigterink

September 21, 2021

The IRS recently updated its “Employee Plans Compliance Resolution System” (EPCRS). By way of background, EPCRS is a correction program administered by the IRS for plan sponsors to correct certain retirement plan errors. EPCRS is comprised of three different components: the Self-Correction Program, the Voluntary Correction Program, and the Audit Closing Agreement Program. The updated version of EPCRS, which was published in Revenue Procedure 2021-30, supersedes the prior version of EPCRS. Plan sponsors and…

Law and the Workplace

Illinois Appellate Court Addresses Statute of Limitations Period for BIPA Claims

By Steven J. Pearlman, Edward Young & Dakota D. Treece

September 20, 2021

On September 17, 2021, an Illinois Appellate Court addressed the appropriate statute of limitations period for claims brought pursuant to the Illinois Biometric Information Privacy Act (“BIPA” or the “Act”), 740 ILCS § 14/1, et seq., holding that (1) claims asserted under sections 15(c) and (d) of the Act are subject to a one-year statute of limitations period, while (2) claims brought under sections 15(a), (b), and (e) are subject to a five-year statute of limitations…

Government Contractor Compliance & Regulatory Update

Federal Government Issues New Guidance on Vaccination Requirements for Contractors

By Guy Brenner & Megan Childs

September 20, 2021

As previously reported, the Biden Administration issued an executive order on September 9, 2021 setting forth new COVID-19 safety protocols for certain federal contractors (the “Executive Order”). The Safer Federal Workforce Task Force (the “Task Force”) is tasked with developing the COVID-19 safety requirements that covered contractors and subcontractors will be required to follow. The Task Force has now released FAQs providing some information on what the forthcoming COVID-19 safety requirements for covered federal…

The Capital Commitment

SEC Is Exploring Reforms Regarding Private Fund Disclosure Of Conflicts Of Interest And Fees and Expenses

By Joshua M. Newville & Samuel J. Waldon

September 20, 2021

On September 14, 2021, U.S. Securities and Exchange Commission Chair Gary Gensler testified before the Senate Committee on Banking, Housing, and Urban Affairs. During his testimony, he stated that the SEC is exploring “potential reforms” regarding investment funds and managers. Chair Gensler explained that one of the potential reforms under consideration by the SEC was ways to enhance disclosures by private fund managers regarding conflicts of interest and allocation of fees and expenses. He stated…

Law and the Workplace

New York Labor Law Amendments Expand Scope of “Deductions” Claims

By Allan Bloom

September 19, 2021

New York Governors seem to have a history of favoring employees with Labor Law giveaways as they check out of the Executive Mansion. (Remember the Wage Theft Prevention Act, signed by David Paterson days before he left office in December 2010?) On August 20, 2021, four days before his resignation took effect, former Governor Andrew Cuomo signed the “No Wage Theft Loophole Act” (the “Act”), which amended sections 193 and 198 of the Labor Law…

California Employment Law Update

September 2021 California Employment Law Notes

By Tony Oncidi

September 17, 2021

We invite you to review our newly-posted September 2021 California Employment Law Notes, a comprehensive review of the latest and most significant developments in California employment law. The highlights include: Ninth Circuit Rejects “Paramour Preference” Liability Arising From Supervisor’s Affair With Another Employee $3.5 Million Emotional Distress Award Was “Shockingly Disproportionate” To Evidence Of Harm Employee Nonsolicitation Clause Does Not Violate Antitrust Law And Is “Pro-Competitive” Employer Must Prove Employee Knew Or Should Have …

California Employment Law Update

Farm Labor Employers Did Not Fail To Pay Minimum Wage To Discharged Employees

By Tony Oncidi

September 17, 2021

Jaime Zepeda Labor Contracting, Inc. v. Department of Indus. Relations, 2021 WL 3560937 (Cal. Ct. App. 2021) The California Division of Labor Standards Enforcement (DLSE) issued minimum wage citations to farm labor employers pursuant to Cal. Lab. Code § 1197.1 despite the fact that it was undisputed that the employers paid all of the employees at least the minimum wage by payday. The DLSE contended that the failure to pay wages on the dates the…

Proskauer Rose LLP

Proskauer Rose LLP Blogs

Blog Authors

District Court Dismisses Investment and Recordkeeping Claims Against 401(k) Plan Fiduciaries

Top 7 Best Practices for Representing Transgender and Nonbinary Pro Bono Clients

Northern District of California Dismisses Derivative Lawsuit Alleging Online Child Privacy Law Violations

EPCRS Update Offers New Tools to Correct Retirement Plan Errors

Illinois Appellate Court Addresses Statute of Limitations Period for BIPA Claims

Federal Government Issues New Guidance on Vaccination Requirements for Contractors

SEC Is Exploring Reforms Regarding Private Fund Disclosure Of Conflicts Of Interest And Fees and Expenses

New York Labor Law Amendments Expand Scope of “Deductions” Claims

September 2021 California Employment Law Notes

Farm Labor Employers Did Not Fail To Pay Minimum Wage To Discharged Employees

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