Latest news with #ERISA
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
DATA BREACH ALERT: Edelson Lechtzin LLP is Investigating Claims on Behalf of Tea Dating Advice, Inc. (Tea app), Customers Whose Data May Have Been Compromised
NEWTOWN, Pa., July 25, 2025 /PRNewswire/ — The law firm of Edelson Lechtzin LLP is investigating data privacy claims regarding an incident involving Tea Dating Advice, Inc. ('Tea'). Tea learned of a data breach on or about July 25, 2025. If you would like to discuss this case with a lawyer, please click HERE. About Tea Dating Advice, Inc. The Tea app was created to enhance dating safety by equipping women with cutting-edge tools, real-time insights, and a powerful community, enabling them to navigate the modern dating world with confidence and control. What happened? On July 25, 2025, Tea revealed that approximately 72,000 images had been leaked online, including 13,000 selfies that included users' photo identifications. The company reports that it 'has engaged third-party cybersecurity experts and are working around the clock to secure its systems.' The data breach was initially reported by 4040 Media, which said that 4Chan users had discovered an 'exposed database' that 'allowed anyone to access material' from Tea. The compromised data may include names, birth dates, addresses, driver's license numbers, and other sensitive personal information. How can I protect my personal data? If you receive a data breach notification concerning Tea, you should take steps to protect yourself against identity theft and fraud by regularly reviewing your account statements and monitoring your credit reports for any suspicious or unauthorized activity. Edelson Lechtzin LLP is investigating a class action lawsuit to seek legal remedies for individuals whose sensitive personal data may have been compromised by the Tea data breach. For more information, please contact: Marc H. Edelson, LECHTZIN LLP411 S. State Street, Suite N-300Newtown, PA 18940Phone: 844-696-7492 ext. 2Email: medelson@ About Edelson Lechtzin LLP Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving data breaches, our lawyers focus on class and collective litigation in cases alleging securities and investment fraud, violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft, and consumer fraud. This press release may be considered Attorney Advertising in some jurisdictions.
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
INVESTIGATION ALERT: Edelson Lechtzin LLP Announces Investigation of Encompass Health Corporation (NYSE: EHC) and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to
NEWTOWN, Pa., July 23, 2025 /PRNewswire/ — Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving Encompass Health Corporation ('Encompass') (NYSE: EHC), resulting from allegations of providing potentially misleading information to the investing public. If you are an Encompass investor who suffered a substantial loss and would like to learn more, you can provide your contact information and trading details HERE. You can also contact attorney Eric Lechtzin of Edelson Lechtzin LLP by calling 844-563-5550 or via e-mail at elechtzin@ THE COMPANY: Encompass is the largest owner and operator of inpatient rehabilitation hospitals in the U.S., with a network of approximately 166 facilities across 38 states. Encompass provides intensive post-acute care, including physical, occupational, respiratory, and speech therapy, to patients recovering from major illnesses and injuries. THE ALLEGED WRONGDOING: On July 15, 2025, The New York Times published an article titled 'Even Grave Errors at Rehab Hospitals Go Unpenalized and Undisclosed,' detailing patient safety concerns at Encompass rehabilitation hospitals across the country. The article reported that Encompass owns 34 of the 41 inpatient rehab facilities flagged by Medicare as having 'statistically significantly worse rates of potentially preventable readmissions for discharged patients.' Specifically, these potentially preventable incidents included fatal carbon monoxide poisoning, medication errors, and bed alarm failures. Following publication of the article, the price of Encompass stock fell $12.39 per share, or 10.35%, to close at $107.28 per share on July 15, 2025. ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class cases alleging violations of federal antitrust laws, employee benefit plans under ERISA, wage theft, data security, and consumer fraud. For more information, please contact: Marc H. Edelson, Lechtzin, LECHTZIN LLP411 S. State Street, Suite N-300Newtown, PA 18940Phone: 844-696-7492 or 215-867-2399 ext. 1Email: medelson@ Email: elechtzin@ Web: This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Time Business News
19-07-2025
- Business
- Time Business News
Fiduciary Breaches Could Quietly Undermine Retirement Accounts, Study Shows
A new analysis from J. Price McNamara spotlights how hidden fees and fiduciary missteps within employer-sponsored retirement plans can significantly erode long-term savings. Based on recent litigation trends and federal data, the study examines how fiduciary breaches under the Employee Retirement Income Security Act (ERISA) are becoming increasingly costly for millions of American workers. Plan administrators carry a legal duty under ERISA to act in the best interest of participants. This includes monitoring service providers, controlling fees, and maintaining fee transparency. When these responsibilities are ignored or poorly managed, participants may face steep losses over time. The financial impact can be substantial. Data cited in the study shows that even a one percent increase in retirement plan fees can reduce total savings by up to 28 percent over 35 years. That reduction could amount to tens or even hundreds of thousands of dollars for individual account holders. A chart from the Department of Labor illustrates how savings accumulate under different fee scenarios, assuming steady contributions and returns over time. Recordkeeping fees offer a clear example. While competitive rates hover around $35 per participant annually, some plans pay as much as $150 per person. These inflated charges suggest a failure to negotiate fair rates or to vet service agreements thoroughly. Investment choices also raise concern. Analysis of data from the Investment Company Institute indicates that 67 percent of retirement plans still use higher-cost retail-class mutual fund shares, despite the availability of lower-cost institutional alternatives. This decision, often overlooked, increases participant costs without improving performance. Benchmarking can help control these expenses. Administrators are expected to compare their plan's fees against similar offerings. Failure to do so may result in participants absorbing fee increases of up to 13 percent. When benchmarking is ignored, plans may drift further away from industry standards, placing additional strain on future retirement security. Litigation linked to excessive retirement plan fees has surged in recent years. According to statistics reviewed by J. Price McNamara, more than 200 class-action lawsuits have been filed since 2015. In 2020 alone, 90 suits targeted employers for fiduciary violations. Between 2017 and 2021, excessive fee litigation rose by over 50 percent. Notable settlements underscore the risks of noncompliance. In 2019, MIT agreed to pay $18.1 million to resolve claims of excessive fee practices. That same year, Johns Hopkins University settled for $14 million. These outcomes reflect growing legal and financial exposure for plan sponsors and fiduciaries who fail to maintain adequate oversight. Participants have legal options when fiduciary duties are breached. Administrators must regularly disclose all fees and adjust plan structures to keep costs competitive. If savings have been diminished due to excessive charges, individuals can pursue restitution through legal action. Successful claims not only help restore lost funds but often lead to improved management and oversight practices. The study concludes that recent regulatory changes have improved fee disclosure requirements, yet many plans still fall short. Inadequate governance, lack of transparency, and poor provider oversight continue to drive legal challenges. With litigation rates climbing, awareness of one's rights as a retirement plan participant has never been more important. J. Price McNamara's research emphasizes the need for proactive financial literacy and regulatory enforcement. Retirement security depends not only on contributions and returns but also on how well fiduciary responsibilities are upheld. TIME BUSINESS NEWS
Malaysian Reserve
18-07-2025
- Business
- Malaysian Reserve
DATA BREACH ALERT: Edelson Lechtzin LLP Is Investigating Claims On Behalf Of Anne Arundel Dermatology Customers Whose Data May Have Been Compromised
NEWTOWN, Pa., July 18, 2025 /PRNewswire/ — The law firm of Edelson Lechtzin LLP is investigating data privacy claims regarding an incident at Anne Arundel Dermatology. Anne Arundel Dermatology learned of a data breach on or about February 6, 2025. If you would like to discuss this case with a lawyer, go HERE. About Anne Arundel Dermatology Anne Arundel Dermatology is a full-service dermatology practice that offers a comprehensive suite of cosmetic laser and skin care services, as well as dedicated in-house Mohs surgery and pathology laboratory services at over 60 locations in the Mid-Atlantic and Southeastern regions. What happened? On or about June 27, 2025, Anne Arundel Dermatology identified a data privacy breach within its computer network. The company initiated an investigation and determined that certain data Files were accessible to an unauthorized third party for a period between February 14, 2025, and May 13, 2025. The compromised data may include names, addresses, birth dates, medical information, and health insurance information. Over 1.9 million individuals have been affected by this data breach. How can I protect my personal data? If you receive a data breach notification concerning Anne Arundel Dermatology, you should take steps to protect yourself against identity theft and fraud by regularly reviewing your account statements and monitoring your credit reports for any suspicious or unauthorized activity. Edelson Lechtzin LLP is investigating a class action lawsuit to seek legal remedies for individuals whose sensitive personal data may have been compromised by the Anne Arundel Dermatology data breach. For more information, please contact: Marc H. Edelson, LECHTZIN LLP411 S. State Street, Suite N-300Newtown, PA 18940Phone: 844-696-7492 ext. 2Email: medelson@ About Edelson Lechtzin LLP Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving data breaches, our lawyers focus on class and collective litigation in cases alleging securities and investment fraud, violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft, and consumer fraud. This press release may be considered Attorney Advertising in some jurisdictions.
Time Business News
15-07-2025
- Health
- Time Business News
Five Tips for Seamless ERISA Compliance
It can be quite scary navigating through complying with ERISA requirements, as you have to take care of deadlines, deal with a lot of documentation, interact with employees, make sure that they are aware of their rights, and feel threatened by the heavy fines that can be imposed on you. Here are some ways that you can make sure your company is following the rules and does not get stuck in any unwanted compliance issues. Many documents update employees on their rights and allow them to know what benefits they are getting, such as how the costs are being shared, the medical tests and procedures that the company will cover and the list of preventative services they will provide, and the list of new or existing drugs, amongst many other things. These documents are comprehensive, and participants have a right to know if there have been any changes made to them. So, as an employer, it is your right to update participants of changes made in a timely manner. These documents include the Summary Plan Description (SPD) that highlights the details of the benefits the employees will be receiving and whether they are eligible for them. The Summary of Benefits and Coverage (SBC) document covers all the health rights that the employees will be given. The HIPAA privacy notice informs employees about how their health information is being utilized. The Children's Health Insurance Program (CHIP) Notice explains how the company can aid your children. Employers also need to submit reports to the Department of Labor annually and on time. If they fail to do so, it will result in complications against the business as the DOL can penalize you for late submission of these documents. If you fail to provide any of these documents, the Department of Labor can charge you. It can charge $195 daily for failing to provide SPD, $145 daily for not providing CHIP, and $1443 in the case of a SPD, which is why ERISA compliance is essential. All these penalties can add up to a huge amount that will only affect your company negatively. Make yourself prepared for the audit by understanding the process fully and keeping all the documents in one place. You should also train your HR professionals for this and ensure that those in the benefits teams fully comprehend the importance of ERISA and what its compliance requires from the company. Also, work with your legal advisors and auditors to make sure that you have all the necessary documents and procedures in place. Here are the documents that you should keep prepared: 01k and employee benefits regulation: Family and Medical Leave Act (FMLA) compliance, Employee Retirement Income Security Act (ERISA) compliance, Employee timekeeping, Wage and hour compliance, Child labor law compliance, Wage deduction processes, and Accurate payroll and recordkeeping. Regularly update all the employees about any changes in the documents and inform them about the rights they have. If they are planning to invest, explain to them their choices fully and completely so that they can know the risks that come with their investments, as they have a right to know where their money is going and how it will be used. The process of compliance with ERISA may seem overwhelming and overburdening, but it does not have to be like that if you have a team that focuses on ensuring regulations by timely filing forms and telling employees about changes in documentation. Since it is not a one-time thing, but rather an ongoing process that you have to keep up with regularly, you will have to ensure that your compliance policy also evolves and adapts. TIME BUSINESS NEWS
