Insights
Mike Hadley Weighs in on Trump’s Nominee to Head EBSA and the Impact on Class-Action Lawsuits with Bloomberg Law
Davis & Harman Partner Mike Hadley was recently featured in the Bloomberg Law article, “Trump’s Pick for Top Benefits Cop Viewed as Plaintiffs’ Bar Foe,” where he discussed the impact of Trump’s selection of Daniel Aronowitz to lead the Employee Benefits Security Administration (EBSA) on the proliferation of class-action lawsuits against plan sponsors.
Bloomberg Government reported that regulators have struck a largely impartial stance on rising private-sector litigation, despite calls of concern by the regulated community. Hadley is quoted to say that regulators need to “take seriously the existential threat that these class-action lawsuits represent.
Hadley is further quoted to say:
“We desperately need their help to get the courts to enforce appropriate pleading standards and reduce the pressure on plan sponsors to settle and pay off the class action lawyers. . . [w]hat the Trump administration is saying with this pick is that the era of class-action abuse is coming to an end.”
A link to the full article can be found here
