Dillard's Agrees To Settle Class Action For $35M

Law360, New York (December 7, 2006, 12:00 AM EST) -- Department store chain Dillard’s Inc. said Wednesday that it has agreed to pay $35 million to settle a pension class action suit alleging violations of the Employee Retirement Income Security Act.

The suit, filed in 2002 in the U.S. District Court for the Southern District of Ohio, alleged the company made amendments to the pension plan that were improper, and that the money paid to some employees was wrongly calculated or was age discriminatory.

The lead plaintiff, Cheryl Clevenger, worked for Mercantile Stores from 1986 to...
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