November 23, 2024
Michelle Yau of Cohen Milstein Sellers & Toll PLLC helped to secure multiple multimillion-dollar settlement deals as lead counsel on class actions from workers alleging retirement plan mismanagement, including deals with New York Life Insurance Co. and Citgo Petroleum Corp., earning her a spot among the 2024 Law360 Benefits MVPs.
Her biggest accomplishment:
Yau said the high value and number of settlements Cohen Milstein has reached in class actions alleging violations of the Employee Retirement Income Security Act, or ERISA, have made 2024 “the most fulfilling year of my career.”
Among the highlights for Yau is a $19 million deal to end an ERISA class action against New York Life — which got final approval in July from a New York federal court.
“That’s real money for employees,” Yau said.
Yau and Cohen Milstein also saw key developments in May toward an ERISA class action settlement with Citgo, securing class certification for the plaintiffs and defeating a summary judgment motion. An unopposed motion for preliminary approval of the deal, which increased the value of pensioners’ retirement funds by more than $10 million, was filed in Illinois federal court in October.
Her proudest moment:
Yau said that while there’s not one particular moment from the year that stands out, she is proud of the strong cooperation among attorneys in Cohen Milstein’s employee benefits and ERISA practice group that she leads. The multiple ERISA class action settlements reached this year are a “direct result” of that cooperation, she said.
“We’re all working our butts off, and it’s making a difference,” Yau said.
Another major deal was a $14.8 million settlement to end a proposed class action from ex-workers for a retail display manufacturing company called Triad Manufacturing Inc. The deal received final approval in Illinois federal court in August 2023.
Yau said getting settlements on multiple ERISA class actions over the past year was like “hitting the top of the mountain and then getting to stay there.”
Her advice for junior attorneys:
Yau, who has three children, said that as a junior attorney she struggled with juggling family responsibilities alongside a deep commitment to her work.
“I think it took a little bit of a leap of faith to see that it was all OK,” she said.
Yau encouraged attorneys to communicate with their families. She added that while she might not have 100% confidence every day that she’s doing enough in both her career and family life, “you can absolutely do both.”
“At least in my family experience, because I’m working, because I actually love my work just like I love my children, they understand that there’s something else in my life other than them, and that’s OK,” Yau said.