Appeals Court Orders AK Steel To Pay Pensions

Law360, New York (April 20, 2007, 12:00 AM EDT) -- Former employees of AK Steel Holding Corp. won an ironclad victory on Friday, when an appeals court upheld a ruling forcing the company to pay $46.2 million for miscalculating employee pension benefits.

The plaintiffs, former employees of Armco Inc., which merged with AK Steel in 1999, first sued the company in 2002.

The suit was first brought by John West, an employee at Armco from October 1966 to August 1997 who participated in the company’s Retirement Accumulation Pension Plan.

The complaint challenged AK Steel’s method of...
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