Discover and read the best of Twitter Threads about #ERISA
Most recents (2)
Forever indebted to Judge Young, bard of #ERISA, for his #preemption dirge in Andrews-Clarke, 984 F. Supp. 49 (D. Mass. 1997). It's a masterful lamentation on entwined tragedies: Mr. Clarke's death and ERISA preemption's endurance.
🧵The Elegy of Andrews-Clarke:
🧵The Elegy of Andrews-Clarke:
An #ERISA plan covered Mr. Clarke,
with pre-utilization review.
"As a consequence of their failure to pre-approve" his admission to inpatient rehab
"Clarke never received the treatment
he so desperately required,
suffered horribly, and
ultimately died needlessly at age 41."
with pre-utilization review.
"As a consequence of their failure to pre-approve" his admission to inpatient rehab
"Clarke never received the treatment
he so desperately required,
suffered horribly, and
ultimately died needlessly at age 41."
His widow & 4 children sought redress.
The Plan removed to Judge Young's Court and
"just as promptly,
asked this Court to throw her out
without hearing the merits of her claim.
This, of course, is ridiculous.
The tragic events set forth in [her] Complaint
cry out for relief."
The Plan removed to Judge Young's Court and
"just as promptly,
asked this Court to throw her out
without hearing the merits of her claim.
This, of course, is ridiculous.
The tragic events set forth in [her] Complaint
cry out for relief."
1/ JUST READ opinion in latest lawsuit against #crypto exchanges/custodians over whether customers are owed forks/airdrops. As discussed on podcasts (@APompliano, @PeterMcCormack, @stephanlivera, @PrestonPysh+others), these contracts tend to be 1-sided...
law.justia.com/cases/californ…
law.justia.com/cases/californ…
2/ ...& judges generally will uphold the contract to which parties agreed, so breach of contract & conversion claims not likely to win (& they aren't). This is why these 1-sided contracts are a prob for institutional investors who owe a #fiduciary obligation to their customers...
3/ ...a fiduciary asset manager who agrees to a vague, 1-sided contract will get sued by its clients for breach of fiduciary duty if something goes wrong (& if it's an #ERISA fund, that fiduciary has PERSONAL liability & will be sued personally, not just sued professionally)...
