Foot Locker Says Retirement Plan Complaints Too Late

Law360, New York (September 28, 2012, 7:33 PM EDT) -- Foot Locker Inc. on Friday asked a New York federal judge to throw out a putative class action alleging it illegally changed its employee retirement plan, arguing that employees failed to complain about the 1996 amendment in time.

The plaintiff, former Foot Locker employee Geoffrey Osberg, has waited too long to raise issues with the company's 1996 change to a “cash balance” plan, a move that allegedly diminished some employees' retirement funds, lawyers for the shoe retailer said at oral arguments before U.S. District Judge Katherine...
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