Watson
EAST ST. LOUIS – Casino Queen directors and former owners aim to stop a suit over the collapse of an employee ownership plan by enforcing an arbitration clause that former president Jeff Watson signed in December 2018.
Watson gained an appointment as St. Clair County associate judge a month later.
In October 2019, employees learned that the value of their casino stock had fallen by about 95 percent.
Former manager Tom Hensiek and former dealer Jason Gill sued Watson, current directors and former owners at U.S. district court this April.
They claim they retired but didn’t receive benefits they expected.
Their counsel, Michelle Yau of Washington, alleges breach of fiduciary duties under the Employee Retirement Income Security Act.
Personnel Moves: Former Neiman Marcus CEO to Chair The Perot Museum Board
Plus, The Beck Group announces new COO, Texas Rangers name new GM, The American Heart Association hires development VP for Dallas office, and more.
By Kelsey Vanderschoot
Published in
Business & Economy
December 15, 2020
12:54 pm
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The Perot Museum of Nature and Science elected former Neiman Marcus president and CEO Karen Katz chair during its final board meeting of 2020. Katz succeeds Mac McFarland and will serve a year-long term.
Karen Katz, The Perot Museum of Nature and Science
Katz spent nearly 33 years with Neiman Marcus, working her way through various executive posts before serving eight years as president and CEO. During her time as CEO, she led the company through an extended period of growth and digital transformation. Katz retired in 2018 but continues to serve on the boards of Under Armour, Humana, and Casper. She is also chair of a shoe company, StreetTrend.
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Anthem Beats Proposed Class Action Over Knee Pain Implant
Law360 (December 14, 2020, 3:29 PM EST) A California federal judge has thrown out a proposed class action accusing Anthem of violating federal benefits law by refusing to pay for a knee pain treatment, finding the woman behind the suit hadn t shown her health plan was obligated to pick up the tab.
On Friday, U.S. District Judge Mark C. Scarsi tossed Maria Fortier s lawsuit claiming that Anthem s coverage denial for an implant device meant to alleviate knee pain ran afoul of the Employee Retirement Income Security Act.
Judge Scarsi tossed Fortier s original complaint in October, but allowed her to fix it by pointing out where exactly in the.
House lawmakers introduce legislation to promote sustainable investing
The measure, led by Rep. Andy Levin, would require advisers to consider environmental, social and governance factors in investment decisions
December 14, 2020 2 MINS
House Democratic lawmakers introduced legislation Monday to promote sustainable investing by requiring retirement plan fiduciaries and other financial advisers to consider ESG factors in investment decisions and disclose how they use them.
Under the Sustainable Investment Policies Act and the Retirees Sustainable Investment Policies Act, advisers would have to maintain an environmental, social and governance investment policy, inform workers about it and file it with either the SEC or the Department of Labor. The sustainable investment policy bill amends the Investment Advisers Act, while the retirees bill amends federal retirement law, the Employee Retirement Income Security Act.
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