Plaintiffs Drub Class Expert In Kraft ERISA Action

Law360, New York (April 28, 2011, 3:40 PM EDT) -- Plaintiffs accusing Kraft Foods Global Inc. of mismanaging pension funds fired back Wednesday at the company's effort to decertify their Illinois class action, blasting a Kraft expert witness who argued that no Employee Retirement Income Security Act suit is class-certifiable.

The plaintiffs claim Kraft's way of structuring its fund, which invested in company stock, cost them money in management fees and through drag, an alleged violation of ERISA. Drags are investment disadvantages of unitized pension plans that can cause the fund to trail the greater stock...
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