Electronic Data Systems Nears Deal In ERISA MDL

Law360, New York (December 20, 2007, 12:00 AM EST) -- Electronic Data Systems Corp. is inching closer to settling ERISA claims filed by a purported class of more than 85,000 employees who accused the technology services company of enticing improper investments of retirement funds into company stock.

The parties in the consolidated litigation in the U.S. District Court for the Eastern District of Texas on Wednesday filed a joint motion to stay the case pending a final settlement.

“Currently the parties are discussing the more minute details of a proposed settlement,” the motion said. “In light...
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