Appellate Court Rejects Urban Decay Claim Based On Lay Witness Opinion, Upholds Mitigated Negative Declaration

Appellate Court Rejects Urban Decay Claim Based On Lay Witness Opinion, Upholds Mitigated Negative Declaration

When cities and counties conduct CEQA review of a large-scale commercial development project including a major national chain like Wal-Mart or Costco, a common objection is that the project will displace existing, locally owned retail establishments, resulting in a significant impact on the environment, in the form of urban decay (or “blight”).

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Fidelity Prevails in ERISA Float Litigation

The First Circuit joined the Eighth Circuit in finding that Fidelity’s practice of earning overnight “float” interest on the cash paid out to 401(k) participants redeeming shares in mutual funds did not violate ERISA’s duty of loyalty or prohibition on self-dealing.

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View from McDermott: Fifth Circuit Focuses On Process in ESOP Valuations

View from McDermott: Fifth Circuit Focuses On Process in ESOP Valuations

Though the Supreme Court’s 2014 unanimous ruling in Fifth Third Bank v. Dudenhoeffer announced the Employee Retirement Income Security Act (ERISA) standards for stock valuation in the context of a large public employee stock ownership plan (ESOP), the vast majority of ESOPs are still grappling with valuation issues.

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