Submitted
By Joel Press (pictured), Press Management – It’s a new year and for some, a time to explore new options. Earlier this month, James Simons, the legendary founder and chairman of Renaissance Technologies LLC, announced he was stepping down from the firm and passing on the baton to Peter Brown, who has served as CEO since 2017.
Arriving at the right time to step back as the founder of any hedge fund is never easy, and when it comes to thinking about succession planning, there is no right or wrong answer or approach. It is a personal decision, and depends on what is right for the individual at that time. Having worked on more than 600 succession plans over my career, a common thread running through each and every one of them is that they require a lot of work, and a lot of soul searching. We will be discussing voluntary departures from day to day activities in this column. Unfortunately there have been circumstances, due to illness, disability or death, where these
High-court ruling thwarts ERISA stock-drop lawsuits
American Benefits Council s Jan Jacobson
More than six years after the U.S. Supreme Court issued a unanimous ruling on how courts should handle stock-drop cases, defined contribution participants claiming ERISA violations are struggling to vault the high hurdle set by the court.
Since the 2014 decision in Fifth Third Bancorp et al. vs. Dudenhoeffer et al., the annual number of stock-drop suits being filed has declined, especially when compared to the annual filings during and following the Great Recession.
Many U.S. District Court judges have dismissed ERISA complaints as they abide by the Dudenhoeffer guidelines. A handful of appeals courts have reversed lower court dismissals. For those few lawsuits that climbed the litigation ladder to the Supreme Court, the justices have shown little desire to review or revise the standards for determining if a stock-drop complaint should be dismissed or allowed to go to trial.
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To the editor:
After seeing the images included in Becky Johnsonâs âPublic may finally get chance to speak at Waynesville meetingâ story and reading a Dec. 2 letter to the editor, itâs clear that the town board is only getting to hear voices that represent one side of the masking mandate (which shouldnât be a debate at all).
Perhaps if the statewide mandate were actually enforced in the meeting spaces, the science-believing, empathetic Haywood County residents would come out and share their thoughts, but as has been pointed out, weâre not willing to risk our health to conspiracy nuts who clearly donât care about anyone but themselves.