Commentary & Analysis
By Steven Flores, Esq., Winston & Strawn
In Fifth Third Bancorp. v. Dudenhoeffer, 134 S. Ct. 2459 (June 25, 2014), the U.S. Supreme Court rejected a widely accepted presumption of prudence favoring fiduciaries of qualified retirement plans designed to invest primarily in employer stock through employee stock ownership plans, or ESOPs. The plaintiffs in this case alleged that in 2007, Fifth Third Bancorp and several officers breached fiduciary duties to the Fifth Third ESOP, because they knew, or should have known, that Fifth Third’s stock was overvalued and excessively risky.
By Tim Adelman, Esq., LeClairRyan
From Westlaw Journal Aviation: Attorney Tim Adelman of LeClairRyan discusses the recent influx of drones into U.S. airspace and the challenges the Federal Aviation Administration faces in determining whether or how to regulate these new aircraft.
One of the fastest-evolving areas of aviation is the use of drones. Although “drone” is the popular term, it is not used in the industry, which initially used “unmanned aerial vehicle,” or UAV.
By Chris Faulkner, Breitling Energy
From Westlaw Journal Environmental: Chris Faulkner of Breitling Energy, and author of the book “The Fracking Truth,” discusses the connection between the underground disposal of contaminated fracking fluids and earthquakes, and makes recommendations on how to address the ongoing disposal problem.
For a long time, experts believed the act of retrieving oil and gas from shale formations through the method of hydraulic fracturing, more commonly known as fracking, was causing minor earthquakes nearby. The earthquakes were few and far between, and when they did occur, were very minor in nature.
The fashion world lives and dies on trends, but lately the apparel sector has been suffering from a lack of compelling new looks. Shoppers don’t open their wallets when they think they have similar items in their closets – and the winter’s bad weather kept them home. As the season warms up, perhaps fringe styles will kick-start retail sales. Read the full analysis on Alpha Now.
By Andrew Fletcher, Manager, Collaborative Projects, Thomson Reuters
What does Shak Khan do? Behind the title of Special Projects at Spotify, and the numerous other tech successes that Shak has been involved in, is the story of someone who had the hunger and drive to “get to where I want to get to or die.” He counts the four key ingredients that took him from being a high-school dropout to a successful entrepreneur as: loss of sleep, dreams, books, and pain. A key part of this being able to balance the need to dream in order to have the vision of where he wanted to go, with the hard work to make it happen. His first business in the early 90s typified that hard work approach. He would read Loot and then drive around London buying broken mobile phones to polish and repair them. He’d then fly to Dublin on the same day where he could sell them for triple the price. He’d then count his money in the toilets at Dublin airport before flying home and repeating it again the next day. (more…)
As we remember and commemorate the 70th anniversary of the D-Day invasion in Normandy, the passing of veterans who fought in that war (that Tom Brokaw called part of the Greatest Generation) is always sad. When I lived in the UK, I was always humbled by the few remaining WWI veterans who turned up for Remembrance Day in wheelchairs with canes and by the wreaths laid at memorials all across the country. (more…)
By Ella Aiken, Esq., and Malcolm Seymour, Esq., Garvey Schubert Barer
From Westlaw Journal Environmental: Ella Aiken and Malcolm Seymour of Garvey Schubert Barer discuss a class-action case recently accepted for review by the U.S. Supreme Court and its potential impact on defendants’ access to federal court under the Class Action Fairness Act.
The U.S. Supreme Court recently granted certiorari in Dart Cherokee Basin Operating Co. v. Owens, No. 13-719, cert. granted (U.S. Apr. 7, 2014), concerning a removing defendant asserting federal jurisdiction on the basis of the federal diversity statute, 28 U.S.C. § 1332. The court will review whether the defendant must attach sufficient documentary evidence to prove the jurisdictional amount to the notice of removal itself, or whether such evidence may be introduced during briefing on a motion to remand.