Jacob Schutz

Sep 28, 2024 | cohenmilstein.com | Caroline Bressman |Jacob Schutz |Daniel Sutter |Michelle Yau

A Connecticut-based hedge fund that went bankrupt and owner George A. Weiss have agreed to pay $7.9 million to end an ex-worker’s suit alleging the company plowed its employees’ retirement savings into two substandard proprietary funds, according to filings Friday in Connecticut federal court. The proposed class of participants in a 401(k) plan for employees of George Weiss Associates Inc.

Aug 28, 2024 | cohenmilstein.com | Jacob Schutz |Michelle Yau

The U.S. Department of Labor urged the Second Circuit to revive a proposed class action alleging IBM shorted retirees on pension payments through the use of outdated mortality data, stating the lower court’s ruling tossing the case “flies in the face” of U.S. Supreme Court precedent. In an amicus brief filed Tuesday in support of a group of the IBM Corp.

Jul 22, 2024 | cohenmilstein.com | Eleanor Frisch |Kai Richter |Daniel Sutter |Jacob Schutz

Current and former New York Life workers received final approval for a $19 million deal ending their lawsuit claiming the insurance giant kept inferior proprietary investment options in its employee 401(k) plans. On Thursday, U.S. District Judge Jesse M. Furman signed off on the settlement agreement, overruling a single objection to the proposed class settlement.