YRC Worldwide To Settle ERISA Class Action For $6.5M

Law360, New York (November 14, 2011, 1:07 PM EST) -- YRC Worldwide Inc. on Friday agreed to pay $6.5 million to settle a consolidated class action in Kansas brought by participants in the company's benefits plan who claim the transportation giant illegally let them invest in shares that soon became worthless.

In 2008, after YRC's stock dropped from more than $25 per share to less than $1, a group of former company employees lodged the first of several class actions that later were consolidated. The lawsuit's central allegation is that executives responsible for administering the plan...
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