PepsiCo Secures Partial Win In ERISA Class Action

Law360, New York (August 11, 2010, 7:38 PM EDT) -- A judge has issued a mixed ruling in a suit brought against PepsiCo Inc.’s pension plan by a class of employees who allege the soft drink maker violated the Employee Retirement Income Security Act when it changed the interest rate on investments the plaintiffs held under the plan.

Judge Cathy Seibel of the U.S. District Court for the Southern District of New York on Monday dismissed with prejudice the plaintiffs’ two-count ERISA complaint as it related to money they deferred into retirement funds after a 1997...
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