Report: Five of Top Ten Grossing Class Action Settlements Involved ERISA Claims

As featured on the Carnival of Business #8 and the Carnival of Investing #26:

Here's a news item for that small segment of my students who believe that attending law school will help them one day become millionaires.

The Alexander Hamilton Institute Benefits Alert Newsletter brings word that the 2006 edition of Seyfarth Shaw Class Action Report observes that the top 10 grossing class action settlements awards brought in $1.06 billion dollars.   But even more interesting is that 5 of the top 10 cases are ERISA cases!

The Newsletter goes on to inform employers some ways they can go about contesting and defending themselves from such ERISA class action lawsuit, but truth be told, once such a suit makes it past class certification and any motions to dismiss, it is almost always in the best interest of the company not to try to contest the class action through trial.   I made this similar point when discussing ERISA stock drop litigation a few months ago.

And for my money-hungry law students?  There is still plenty of room in my employee benefits class for the coming Fall semester.

PS