What we learned in Day 2 of General Session at the 2015 Annual Conference
1. Income inequality is bound to rise when income for some people are reduced through pension cuts and incomes of others are increased through cuts in top tax rates.
2. The higher the number of negative changes a state makes to its pensions, the higher the increase in income inequality in that state.
3. A single negative change to a state's pension will increase income inequality by about 15%
4. During 2000-2010, when income inequality in a state rises by one, economic growth declines by about 18%
5. Income inequality is not just a problem for public employees --everyone suffers. It can be fixed by fixing a broken tax system so we can appropriately fund pensions and close tax loopholes before we cut our pensions.
6. Direct action lawsuits are more of a custom tailored suit; with that comes the costs, but also the benefits.
7. Class action lawsuits are valuable when individual damages are small.
8. In 2010, the US Supreme Court ruled that if you buy stock on a non- US exchange and they've committed securities fraud, you cannot sue in US federal court (you have to sue in that country).
9. The US is friendly towards class action suits- presumption is you want to be in the class unless you do something to opt out. Abroad, you need to do something affirmative in the beginning of the case to be included.
10. Even though the Delaware legislature is carving out fee shifting bylaws, trustees still need to be vigilant and mindful of the company's bylaws that you are investing in; there many ways they can restrict and harm your rights.