High Court Won't Hear Suit Over $1B ERISA Mistake

Law360, New York (May 23, 2011, 3:12 PM EDT) -- The U.S. Supreme Court on Monday refused to weigh in on a case brought by a class of Verizon LLC employees arguing the company should be held accountable for a $1 billion transcription error in a retirement plan.

The high court rejected without comment bids by both the class and Verizon to examine issues raised by the Employee Retirement Income Security Act action, despite assertions by the class that a major circuit split had developed over how much responsibility companies have to correct so-called scrivener's errors....
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