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Zamansky LLC is investigating Johnson & Johnson Inc. (NYSE: JNJ) (“J&J” or the “Company”) on behalf of its current and former employees for potential violations of the federal Employee Retirement Income Security Act (“ERISA”) in the J&J Savings Plan (the “Plan”). We are investigating whether the ERISA fiduciaries violated duties […]
IBM employees appealed dismissal of claims that fiduciaries of IBM’s employee stock option plan violated their duty under ERISA to manage plan assets prudently because they knew, but did not disclose, that IBM’s microelectronics division was overvalued. District court found a prudent fiduciary could have concluded an earlier corrective disclosure would have […]
The participant-plaintiffs in a stock drop case have won a rare victory in federal court. The plaintiffs alleged that the IBM defendants (IBM itself, along with the Retirement Plans Committee of IBM; Richard Carroll, IBM’s Chief Accounting Officer; Martin Schroeter, IBM’s CFO; and Richard Weber, IBM’s general counsel) failed to […]
A federal appeals court in New York ruled against International Business Machines Crop., overturning a lower court dismissal of a lawsuit by IBM 401(k) plan participants, who alleged plan managers violated their fiduciary duties. The three-judge appellate court panel reversed and remanded a September 2017 dismissal by a District Court […]
‘Twas the night before Christmas and rather than St. Nick and sugar plumbs, we got Treasury Secretary Steven Mnuchin and lumps of coal. The Dow dropped a whopping 3 % on Christmas Eve. It hasn’t done that since – ahem – 1918! Following the bruising stock selloff, which erased more than […]
We are investigating legal claims on behalf of investors with accounts at UBS Financial Services Inc. who have suffered losses from investing in any of the firm’s structured notes or GOAL Yield products. UBS has offered a variety of structured products to investors which are designed to seek to generated […]
We are investigating legal claims on behalf of investors who have suffered losses from investing in any “Yield Enhancement Strategy,” or “YES” strategy. A YES strategy is a form of investing where call or put options are sold to enhance returns in relatively stable or flat markets. The YES strategy […]
On December 18, 2018, media reports revealed that Massachusetts’ securities regulators are investigating GPB Capital Holdings, which sold approximately $1.8 million of its private funds. The funds were sold through independent brokerage firms that reportedly received 10% commissions for pushing these funds on investors. These investments, however, were highly speculative […]
A Jacksonville judge may soon decide if CSX shareholders have the right to take the Jacksonville railroad giant’s board of directors to task for its decision to spend $84 million to hire former CEO Hunter Harrison even though he was in poor health and would die eight months later. Three […]
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 […]