Lucent Strikes Settlement In ERISA Class Action

By Mike Cherney

Law360, New York (February 08, 2010, 3:33 PM ET) -- The plaintiffs in a class action accusing Lucent Technologies Inc. of violating the Employee Retirement Income Security Act by improperly reducing medical benefits for its retirees have reached a settlement with the company, according to court papers.

Magistrate Judge Esther Salas of the U.S. District Court for the District of New Jersey said in an order Friday that she had been advised a settlement had been reached. She gave the parties until Feb. 26 to sign the agreement and until March 9 to file motions to...
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