ERISA Suits Fly In Against Slot Machine Maker

Law360, New York (October 6, 2009, 3:58 PM EDT) -- International Game Technology, which makes slot machines and other gaming products, has been dealt a pair of putative class actions alleging that it decimated a retirement plan by investing too heavily in company stock.

The suits, both filed Friday in the U.S. District Court for the District of Nevada, accused the company, its chairman and former CEO Thomas Matthews, a number of other directors, an IGT profit-sharing committee, and Chief Accounting Officer Daniel Siciliano of breaching their fiduciary duties to the plan by continuing to offer...
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