7th Circ. Nixes Class Cert. Denial In Lockheed ERISA Fight

Law360, New York (August 8, 2013, 9:51 PM EDT) -- The Seventh Circuit overturned a decision Wednesday denying class certification to Lockheed Martin Corp. retirement plan participants, concluding that a lower court's misgivings were unfounded and that a 2011 ruling in another Employee Retirement Income Security Act case posed no bar to the proposed class. 

A three-judge panel reversed a trial court's order denying certification to plan participants in two Lockheed retirement plans who held units of a “stable-value fund” investment option from Sept. 2000 through Sept. 2006 and saw those units underperform relative to the...
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