Settlements and Verdicts

Tyco ERISA Class Action Settled for $70.5 Million

Tyco has reportedly agreed to settle an ERISA class action with a payment of $70.5 million. The lawsuit stemmed from allegations that the company breached its fiduciary duties to its employees by placing company stock in its retirement plans, even while an accounting fraud within the company was underway.

AUG-11-09: Tyco Settles ERISA Class Action for $70.5M [LAW 360: TYCO SETTLES ERISA CLASS ACTION]

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