Macy's Retirement Plan Class Gets Conditional OK

Law360, New York (March 10, 2011, 3:00 PM EST) -- An Ohio federal judge granted conditional class certification Thursday to Macy's Inc. retirement plan members who claim their nest eggs were hurt when the retailer omitted details about setbacks in converting department store outlets Macy's acquired in 2005.

Judge S. Arthur Spiegel of the U.S. District Court for the Southern District of Ohio certified a conditional class of all beneficiaries of two Macy’s and May Department Stores Co. retirement plans from Feb. 27, 2005, through the present, whose accounts included investments in Macy’s stock.

The plaintiffs...
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