Top News

Texas federal judge upholds DOL’s fiduciary rule, denies motion to stay case

Jessica Karmasek Feb. 10, 2017, 4:17pm

Judge Barbara M.G. Lynn, in a detailed 81-page order released Wednesday, shot down each of the plaintiffs’ major arguments, most notably deciding that the rule does not exceed the U.S. Department of Labor’s authority.

Trump order seeks review of DOL’s fiduciary rule

Jessica Karmasek Feb. 3, 2017, 3:41pm

The president’s order, signed Friday, instructs the U.S. Department of Labor to conduct a new study to determine whether the rule is likely to harm investors and the financial industry, and if it does, the rule can be rescinded or revised.

Labor Department targets Vermont ESOP fiduciaries for allegedly violating ERISA

Mark Iandolo Jan. 19, 2017, 9:53am

MONTPELIER, Vt. (Legal Newsline) — The U.S. Department of Labor (DOL) announced a lawsuit Jan. 5 against First Bankers Trust Services Inc. and Sonnax Industries Inc. and its owners for alleged violations of the Employee Retirement Income Security Act.

GOP lawmaker introduces federal legislation aimed at delaying DOL’s fiduciary rule

Jessica Karmasek Jan. 9, 2017, 11:33am

The legislation, introduced by U.S. Rep. Joe Wilson of South Carolina Friday, would provide for a two-year delay of the U.S. Department of Labor’s fiduciary rule’s effective date. The rule mandates financial professionals who service individual retirement accounts, including IRAs and 401(k) plans, to serve the “best interest” of the savers and disclose conflicts of interest.

Attorneys for plaintiffs in lawsuit brought over DOL ‘persuader rule’ seek nearly $480,000 in fees

Jessica Karmasek Dec. 5, 2016, 12:14pm

Houston law firm Ogletree Deakins Nash Smoak & Steward PC, Lubbock firm Bustos Law Firm PC and El Paso firm Kemp Smith LLP are hoping to recover a maximum of $479,834.50 in fees, but said in their motion they also would accept $323,442.63 or $222,645, depending on the rate used by the Texas federal court.

Labor Department's Persuader Rule 'a dead duck,' attorney says

Deb Rogers Nov. 28, 2016, 1:52pm

A rule that would have made attorney and client talks on union issues on the record was given a permanent injunction last week in federal court.

Texas federal judge issues nationwide permanent injunction against U.S. Department of Labor’s ‘persuader rule’

Jessica Karmasek Nov. 18, 2016, 7:19am

The persuader rule, or Persuader Advice Exemption Rule, was meant to effectively eliminate the “advice exemption” under the Labor-Management Reporting Disclosure Act, or LMRDA. Basically, LMRDA requires employers to report each time they engage a consultant to persuade employees on how to use their collective bargaining rights.

Non-profit group pushes Congress to stop new labor rules, including DOL’s potentially costly fiduciary rule

Jessica Karmasek Nov. 14, 2016, 8:36am

Those within the financial services community seem hopeful, with Donald Trump’s presidential win Tuesday, that the U.S. Department of Labor’s conflicts of interest rule is in play.

Nevada Attorney General leads 21-state coalition against DoL's new overtime rule

Mark Iandolo Nov. 1, 2016, 9:26am

CARSON CITY, Nev. (Legal Newsline) – Nevada Attorney General Adam Paul Laxalt announced this week the filing of a motion for preliminary injunction and request for expedited consideration on behalf of 21 coalition states in Nevada’s federal lawsuit against the U.S. Department of Labor’s new overtime rule.

Labor Department targets Sentry Equipment Erectors owner for alleged ERISA violations

Mark Iandolo Oct. 28, 2016, 8:47am

LYNCHBURG, Va. (Legal Newsline) — The U.S. Department of Labor recently filed a lawsuit against the fiduciaries of a Virginia-based employee stock ownership plan for allegations of failing to protect the assets of the plan.

Christian financial services organization sues U.S. DOL over its fiduciary rule

Jessica Karmasek Oct. 13, 2016, 12:56pm

Minneapolis-based Thrivent Financial for Lutherans argues the new rule, which, among other things, redefines the term fiduciaries, would subject it to penalties under federal law and would force it to agree contractually with its customers that they could participate in class actions against the organization.

Attorney: U.S. SC should be tempted to review DOL's tip-pooling rule

Kristin Danley-Greiner Sep. 29, 2016, 1:06pm

SAN FRANCISCO (Legal Newsline) -- In a win for tipped employees and a blow to businesses in the restaurant and hospitality industry, the U.S.Court of Appeals for the Ninth Circuit recently refused to rehear a case regarding a controversial tip-pooling regulation.

WLF pushes Minn. federal court to strike down U.S. Department of Labor’s ‘persuader rule’

Jessica Karmasek Sep. 19, 2016, 2:33pm

In its brief, the Washington Legal Foundation contends the U.S. District Court for the District of Minnesota erred by holding at the preliminary injunction stage that the plaintiffs’ facial challenge to the Persuader Advice Exemption Rule can succeed only by showing that the rule would be invalid in all of its applications.

TransAm Trucking denied appeal in alleged retaliation case

Dawn Geske Sep. 6, 2016, 9:44am

DENVER (Legal Newsline) – The U.S. Court of Appeals for the Tenth Circuit has denied a trucking company's request to overturn a decision that said it retaliated against a former employee who left a trailer on the side of the road.

U.S. DOL argues new fiduciary rule will have ‘enormous’ benefits for investors

Jessica Karmasek Aug. 26, 2016, 2:53pm

The Department of Labor, in a lawsuit brought by a group of trade associations in June, contends its conflicts of interest rule, despite the cost, better serves investors and aligns with other federal retirement laws. The department is asking a Texas federal court to rule in its favor.

WLF to Arkansas federal court: U.S. Department of Labor’s ‘persuader rule’ is too ‘aggressive,’ should be struck down

Jessica Karmasek Aug. 18, 2016, 1:16pm

The Washington Legal Foundation, a D.C.-based public interest law firm, recently filed an amicus brief in Associated Builders and Contractors of Arkansas v. Perez. The foundation, citing a recent Texas federal court ruling, argues the new Persuader Advice Exemption Rule violates First Amendment protections.

Emergency physicians organization fights for fair payment from insurance companies

Dawn Geske Aug. 12, 2016, 9:36am

An emergency physicians’ organization is taking aim at a ruling that decides how much insurance companies compensate emergency physicians for their services.

Department of Labor facing lawsuits over new fiduciary regulations

Rebecca Campbell Aug. 1, 2016, 3:28pm

FORT WORTH, Texas (Legal Newsline) — The Department of Labor (DOL) is facing several lawsuits after it was alleged that the organization had overstepped its rule-making authority when it issued new regulations in April.

U.S. DOJ defends Labor Department’s fiduciary rule in court filing, says injunction would be ‘detrimental’

Jessica Karmasek Jul. 12, 2016, 11:50am

Last month, the National Association for Fixed Annuities, or NAFA, filed a lawsuit in the U.S. District Court for the District of Columbia. The DOJ, on behalf of the DOL and Perez, filed its own proposed order with the D.C. federal court last week, arguing the rule is necessary to “safeguard the retirement savings of millions of American consumers.”

DOL overtime rule change could impact staffing at nonprofits

Sharon Brooks Hodge Jul. 5, 2016, 3:18pm

WASHINGTON – A lawyer specializing in nonprofits says organizations have several options when considering how to comply with new overtime rules imposed by the Department of Labor, including whether to reclassify employees as non-exempt.