Tag Archives: San Diego

Southern District Holds That Compensation Received But Later Forfeited Under Cliff Vesting Schedule in Mandatory Investment Plan, Are Not Unpaid Wages

LONDON - APRIL 17:  The company logo is displa...
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In Callan v. Merrill Lynch & Co., Inc., No. 09 CV 0566 BEN (BGS), 2010 WL 3452371 (S.D. Cal. Aug. 30, 2010) (slip op.), the Southern District held that compensation plans that contained cliff vesting schedules in which awards are forfeited if employment terminates before the awards are vested did not constitute unpaid wages under the Labor Code.

Facts

Former employees of the Defendants Merrill Lynch & Co., Inc. and Merrill, Lynch, Pierce, Fenner & Smith, Inc. participated in three of Merrill Lynch’s employee compensation packages.  Id. *1. Plaintiffs alleged they were required to accept part of their wages in the form of “awards” under the plans. Id. Plaintiffs alleged the plans contain forfeiture provisions that constitute unlawful conversion and violate California’s Labor Code and Unfair Competition Law. Id. Continue reading

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Southern District Jury Issues Verdict for $2,969,932 on Misappropriation of Trade Secrets Claims

US patent 4333141
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Plaintiff in a trade secret misappropriation and patent infringement case won a jury verdict for $11,909,797.  I-Flow Corporation vs. Apex Medical Technologies Inc., No. 07CV01200(DMS), 36 Trials Digest 13th 16 (S.D. Cal. Verdict Date Oct. 28, 2009).  As reported by Trials Digest, plaintiff’s award included $1,484,966 damages from defendant Apex to plaintiff for misappropriation of plaintiff’s trade secrets; and$1,484,966 damages from defendant McGlothlin to plaintiff for misappropriation of plaintiff’s trade secrets. Continue reading

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