Class Certified In Tribune Takeover ERISA Suit

Law360, New York (March 7, 2011, 6:35 PM EST) -- A federal judge in Illinois on Friday certified a class of Tribune Co. employees who allege that GreatBanc Trust Co. breached its fiduciary duty to protect worker benefits when it oversaw the infamous 2007 leveraged buyout of the media giant.

In her order certifying the class, Judge Rebecca R. Pallmeyer of the U.S. District Court for the Northern District of Illinois rejected arguments that the two lead plaintiffs — both former journalists at the Tribune-owned Los Angeles Times — were inadequate.

One of the journalists, Pulitzer...
To view the full article, register now.