Kraft Hit With Proposed Class Action

Law360, New York (October 17, 2006, 12:00 AM EDT) -- Kraft Foods Global Inc. has been hit with a proposed class action suit accusing the world’s second largest food and beverage company of breaching its fiduciary duties by failing to reign in fees and expenses levied against one of its retirement plans.

The lawsuit, filed Monday in federal court in southern Illinois, names the company, its administrative committee, its benefits investment committee and four individual members of the benefits investment committee as defendants.

The four named plaintiffs are seeking to recoup losses suffered by Kraft Foods...
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