Appellate Court Remands ERISA Suit Against Guidant

Law360, New York (June 6, 2007, 12:00 AM EDT) -- An appellate court on Tuesday ruled that former employees of defibrillator maker Guidant Corp. have standing to bring a class action ERISA suit against the company and its directors for breach of fiduciary duty, and remanded the case.

The U.S. Court for Appeals for the Seventh Circuit vacated the ruling of the lower court, which decided that the representative plaintiffs, former Guidant employees who took part in the company’s employee pension plan, did not have standing to bring the suit because they had cashed out their...
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