Suit Against U.S. Sugar Dismissed

A lawsuit against U.S. Sugar Corp. has been dismissed as moot. The lawsuit was filed by shareholders of the company as a part of a class action lawsuit.

The suit alleged that company executives deprived the shareholders of the ability to sell their shares by refusing to entertain buyout offers.

The lawsuit alleged thirteen counts including breach of fiduciary duty and violations of the Employee Retirement Income Security Act (ERISA). Specifically, the suit alleges that by failing to inform the shareholders of the buyout offers, the company was able to keep the stock price low. Thus, the shareholders argue, they were unable to sell their shares at a significant profit.

The suit was dismissed, because the plaintiffs failed to exhaust their administrative remedies prior to bringing the lawsuit in Federal Court.

Disclaimer: The foregoing is general legal information only and not intended to serve as legal advice or a substitute for legal advice. If you have been injured or damaged due to ERISA violations go to www.ContingencyCase.com to see if there is a lawyer or attorney in your local area who is willing to take your case on a contingency fee basis. ContingencyCase.com is an online legal directory that allows Attorneys to advertise their availability to take all kinds of cases on a contingency fee basis (for example personal injury, eminent domain, contract cases, partnership disputes, etc.). Please note there are no guarantees that any attorney or lawyer will take your case. Copyright 2009 ContingencyCase.com – All Rights Reserved.

Recent Trends in ERISA Suits

Pension Governance, Inc, in conjunction with PensionLitigationData.com recently published a study on trends relating to lawsuits claiming violations of the Employee Retirement Income Security Act (“ERISA”). Among the study’s more notable conclusion is that from January 1, 2005 and August 31, 2008, the number of ERISA claims being brought in federal court has steadily increased in volume. The litigation volume was the highest in the Second, Third, and Sixth circuits, while the Tenth and Eleventh circuits saw the lowest volume of cases.

In addition, the study also tracked the success of plaintiffs in various locations and the more common types of ERISA violations that are alleged in the complaints.

Interestingly, although the 11th circuit saw the fewest number of cases filed, it also was the most “plaintiff-friendly.” The 11th Circuit, which encompasses Alabama, Georgia, and Florida, found for the plaintiffs in 86 per cent of cases filed. The Sixth circuit, which encompasses Kentucky, Tennessee, Michigan, and Ohio, was the most difficult for plaintiffs, finding in their behalf just 39 per cent of the time.

Finally, the most frequently brought cause of action under ERISA has been breach of fiduciary duty. Also frequently alleged are violations under Section 502 of the Act, which addresses civil enforcement and failure to follow plan documents.

These trends indicate that individuals are actively litigating their rights under the statute, as opposed to sitting back and waiting for the government to enforce their rights. If you are participating in a retirement plan and believe that the plan administrator has violated ERISA, an attorney will be able to help you select the claims that would work best in your particular circumstances.

Disclaimer: The foregoing is general legal information only and not intended to serve as legal advice or a substitute for legal advice. If you have been injured or damaged due to a violation of the Employee Retirement Income Security Act ("ERISA") go to www.ContingencyCase.com to see if there is a lawyer or attorney in your local area who is willing to take your case on a contingency fee basis. ContingencyCase.com is an online legal directory that allows Attorneys to advertise their availability to take all kinds of cases on a contingency fee basis (for example personal injury, eminent domain, contract cases, partnership disputes, etc.). Please note there are no guarantees that any attorney or lawyer will take your case. Copyright 2009 ContingencyCase.com – All Rights Reserved.

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ERISA Law Blog - About This Site!

This site will feature legal news about ERISA Law. We will interview ERISA Law lawyer and ERISA Law attorney to obtain perspective on the latest news and issues in ERISA Law and where applicable, emdployee rights law.

This site is brought to you by ContingencyCase.com where web users can explore their legal options and search for attorneys who will consider taking their legal cases on a contingency basis. If you have any comments, questions, or suggestions please contact us info@contingencycase.com