Aged to Perfection, But You Still Can’t Get a Job

Discrimination debacle

Despite the adage that we get better with age, corporate America appears to uphold a different philosophy.  Several companies, including Goldman Sachs, IBM, Verizon Communications, and Google have become the topics of scrutiny concerning their employee demographics.  According to observations, these companies harbor a tendency to hire younger workers and push out the older generation.  In particular, Google played the defendant role in a recent class-action lawsuit that has now settled.  According to claims, Google denied employment to well-qualified applicants who were not fresh out of college, over the age of 40. Read more

Big Breach Leads to Bigger Compensation

What is your identity worth?

Following extensive state and federal investigations, a settlement was reached this month regarding the notorious Equifax breach.  To compensate for the millions of individuals affected by the 2017 data break, the credit reporting agency has agreed to provide $300 million worth of monitoring services to affected consumers and $175 million to settle legal disputes with 48 states.  If it is determined, however, that the $300 million amount for services is not enough, then there is a stipulation stating the amount will increase another $125 million.  Equifax must also pay a $100 million fine to the Consumer Financial Protection Bureau.  In addition, the company must update and enhance their data security, to avoid any future computer-oriented crimes from taking place.     Read more

Concussions, CTE, & Closure

Silver Football and NFL Logo On Top of a Green Field, by flickr user C_osett, licensed by Creative Commons.

For the love of the game

The family of Junior Seau has reached settlement with the National Football League over his 2012 suicide. The Hall of Fame linebacker, who played more than half of his 20 year football career with the San Diego Chargers, took his own life at the age of 43. He was later diagnosed with CTE, a chronic form of brain damage, likely brought on by his violent on-field tackling in the NFL. Reports claim that Seau’s family will receive up to $4m in the wrongful death settlement, which was filed in a Philadelphia PA federal court. The NFL has come under fire over the last few years as more and more retired and former players are showing signs of brain damage, concussions, and dementia. Read more

Settlement: SEC Smells Musk

"Stack Of Cash",Licensed Creative Commons, Klickr User kenteegardin, 2011

Pay up

Tesla CEO Elon Musk’s settlement with the SEC has been approved by a judge. The South African businessman and investor was accused of fraud after tweeting that he had secured funding to take his auto-maker, Tesla, private.Musk will have to pay a hefty $20m fine and is being forced to step down as chairman within the next 6 weeks. The charges against Musk were filed by the SEC in the early fall, shortly after Musk allegedly rejected a potential settlement offer. Tesla stock plummeted around 40 points after his “secure funding” tweet. Musk, often boisterous and grandiose in his ideas, designs, and persona, is no stranger to trouble after he was shown smoking weed in a live broadcast.  Read more

From Pirate to Plaintiff

Johnny Can’t Deppend on Anyone to Handle His Money

Johnny Depp has agreed to settle a lawsuit, in which he accused his former business managers of negligence and dabbling in fraudulent activities with his money.  The amount of money Depp was looking to recover was $25 million.  Depp played the role of victim, claiming the firm did not uphold their fiduciary duties to him.  He blamed Joel and Robert Mandel of the Management Company, who managed Depp’s affairs for 17 years, for issuing loans to outside entities without Depp’s knowledge, and investing the actor’s money in opportunities for which the managers could also claim stake.  Depp also accused the Management Group of failing to file his taxes in a timely manner.  Despite these accusations, Joel and Robert Mandel filed counterclaims in the lawsuit. Read more