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Class Action Team Receives ALM Litigator of the Week Shout-Out

Media Mention

AmLaw Litigation Daily

A Covington class action team received a Litigator of the Week shout-out in AmLaw Litigation Daily for their representation of Alcoa USA Corp. and Fiduciary Counselors in an ERISA class action brought on behalf of Alcoa retirees.

Lawyers for the plaintiffs claimed their defined-benefit plans were put at risk by so-called pension risk transfers—transactions that offloaded some pension liabilities to private equity-backed insurance companies. U.S. District Judge Loren AliKhan in Washington, D.C. held that the plaintiffs, who thus far have received every penny due to them, failed to establish standing based on the increased risk of harm.

The Covington team was led by Chris Pistilli, Robert Newman, and Laura Flahive Wu, and included Nick Pastan, Sameer Aggarwal, and Austin Riddick.

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