MoneyGram's $4.5M ERISA Settlement Gets Judge's OK

Law360, New York (October 21, 2010, 5:34 PM EDT) -- A federal judge has given preliminary approval to a $4.5 million settlement between MoneyGram International Inc. and a class of current and former employees who say their retirement accounts — which included substantive investments in company stock — were hammered by the money-order firm's artificially inflated stock price.

Judge Patrick J. Schiltz of the U.S. District Court for the District of Minnesota gave his preliminary blessing to the settlement Wednesday.

The settlement stems from a class action launched in April 2008 under the Employee Retirement Income...
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