Kraft Says 7th Circ. Ruling Should Halt ERISA Action

Law360, Los Angeles (September 30, 2011, 7:40 PM EDT) -- Citing the Seventh Circuit's recent dismissal of a class action against Exelon Corp., Kraft Foods Global Inc. asked an Illinois federal judge Thursday to reconsider a ruling that kept alive a claim that the food giant made illegal investments with a $3 billion employees' retirement fund.

In denying parts of Kraft's motion for summary judgment in July, U.S. District Judge Ruben Castillo refused to toss a breach of fiduciary duty claim under the Employee Retirement Income Security Act leveled against Kraft for investing employees' 401(k) savings...
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