Judge Issues Mixed Ruling In Conexant ERISA Suit

Law360, New York (August 28, 2008, 12:00 AM EDT) -- A federal judge on Wednesday upheld key allegations in a putative class action after an employee of semiconductor-maker Conexant Systems Inc. accused it of mismanaging its 401(k) plan by overloading it with company stock, potentially costing employee-investors millions.

The mixed ruling came about a year after the U.S. Court of Appeals for the Third Circuit overturned the dismissal of the case, Howard Graden, individually and on behalf of all others similarly situated vs. Conexant Systems Inc. et al., in the U.S. District Court for the District...
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