Win or lose, the distressed workers challenging IBM’s handling of its overinflated stock-filled retirement plan have opened a door for others pursuing similar fraud cases. The U.S. Court of Appeals for the Second Circuit’s recent decision to resuscitate the years-old case of Jander v. Retirement Plans Committee of IBM is […]
A Second Circuit panel on Monday gave a proposed class of IBM employees another shot at proving the company improperly invested workers’ retirement savings in overpriced IBM stock, saying a New York federal judge shouldn’t have tossed claims that the alleged actions flouted the Employee Retirement Income Security Act. The […]
International Business Machines Cop. workers who accused the company of failing to protect their retirement savings from a 7 percent drop in IBM stock price convinced a federal appeals court to revive their lawsuit. The decision is a rare win for 401(k) investors in a series of Employee Retirement Income […]
Perhaps the biggest complaint by investors following the 2008 financial crisis was that not a single Wall Street executive was held accountable for their misdeeds. People were upset, angry and annoyed. After all, Wall Street banks nearly led to the collapse of the global financial system. Indeed, the fall of […]
Riot Blockchain has revealed that it is under investigation by the Securities and Exchange Commission. Jake Zamansky told CNBC that “[t]he fact that the SEC division of enforcement is involved suggests they are considering securities fraud action against the firm.” Click here to read the full article on CNBC
Please find below the Amended Stipulation and Agreement of Settlement and the Amended Notice of Pendency and Settlement of Shareholder Derivative Action in Phan, et al., v. Ivy Investment Management Company, et al., Case No. 16CV02338, pending in the District Court of Johnson County, Kansas. DOCUMENT LINKS: Amended Stipulation […]
Large public companies are beginning to rethink offering their own stock as an investment option in 401(k) plans available to their employees. Companies are instituting various measures to either reduce, or in some cases outright eliminate, employer stock holdings in retirement accounts. Zamansky LLC Partner Samuel Bonderoff told Bloomberg Law “I […]
The StarTribune discusses the details of the ERISA class action lawsuit against photography company Lifetouch Inc. recently filed by Zamansky LLC on behalf of current and former Lifetouch employees who participated in the company’s stock ownership plan. StarTribune reporter Jackie Crosby reached out to Zamansky LLC Partner Sam Bonderoff for […]
Bloomberg’s Jacklyn Wille discusses the recent ERISA class action lawsuit filed against photography company Lifetouch Inc. The suit, filed by Zamansky LLC on behalf of current and former Lifetouch employees, alleges that Lifetouch ESOP participants “suffered ‘hundreds of millions of dollars’ in damage by investing in the company’s employee stock […]
CNBC recently launched an investigation into Riot Blockchain, which until October was called Bioptix. The company owned a veterinary patent and researched and developed new ways to test for diseases. The October name change, followed by spike in share price from $8 to more than $40, caught the eye of […]