7th Circ. Won't Rehear Kraft ERISA Challenge

Law360, New York (May 27, 2011, 5:44 PM EDT) -- The Seventh Circuit on Thursday rejected a request from Kraft Foods Global Inc. to re-examine a decision that revived a class action accusing Kraft and its pension plan managers of mismanaging investment funds.

A divided three-judge panel denied Kraft's petition for an en banc rehearing of the court's April 11 ruling, which partly reversed a win on summary judgment for Kraft. The class of about 60,000 claims the way Kraft' structured the pension funds, which invested in company stock, cost them money in management fees and...
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