WHX Settles ERISA, Contract Suit Against Citibank

Law360, New York (October 21, 2010, 2:26 PM EDT) -- WHX Corp. and Citibank NA have settled a suit in which the industrial manufacturer and distributor tried to hold Citibank responsible for an overpayment of more than $1 million to members of a Wheeling-Pittsburgh Steel Corp. pension plan.

Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York on Wednesday approved the dismissal of claims including breach of contract, negligence and breach of fiduciary duty under the Employee Retirement Income Security Act.

The terms of the settlement were not immediately...
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