Similar to the old school public service announcements that used to tell us the time of day and asked us if we knew where our children were, Proskauer wants to make sure fund managers are complying with their applicable “venture capital operating company” (“VCOC”) obligations.
A manager of a private investment fund that accepts investments
Under ERISA, a participating employer that withdraws from a multiemployer pension plan must pay its share of the plan’s unfunded vested benefits (i.e., its withdrawal liability). ERISA’s “controlled group” rules extend this obligation to all “trades and businesses” that are under “common control” with the withdrawing employer, thereby making the withdrawing employer and each controlled
On September 30, 2025, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas issued a final judgment on damages in Spence v. American Airlines, Inc., No. 4:23-cv-552 (N.D. Tex. Sept. 30, 2025), which related to challenges that American Airlines and its employee benefits committee (“AA”) violated their ERISA fiduciary
On August 7, 2025, President Trump signed an executive order entitled “Democratizing Access to Alternative Assets for 401(k) Investors” (the “Executive Order”), which directs the Department of Labor (the “DOL”) and the Securities Exchange Commission (the “SEC”) to relieve regulatory burdens and litigation risk that impede investments in alternative assets (including crypto, private