Zell Can't Duck ERISA Suit Over Tribune Takeover

Law360, New York (December 21, 2009, 4:19 PM EST) -- A federal judge has trimmed, but not rejected, a putative class action brought by current and former Los Angeles Times employees who accuse Tribune Co. chairman Samuel Zell and the bank that guided Zell's 2007 takeover of the media company of ignoring their fiduciary duty to protect employee retirement benefits.

Judge Rebecca R. Pallmeyer of the U.S. District Court for the Northern District of Illinois offered a mixed ruling on the defendants' motion for summary judgment, granting dismissal to claims against Tribune's board members while maintaining...
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