Grace Moves To Settle ERISA Action For $10M

Law360, New York (April 30, 2009, 12:00 AM EDT) -- W.R. Grace & Co. has asked a judge to approve a $10 million deal that would end a nearly five-year legal battle alleging the bankrupt chemical maker's officers hid investment risks from employees who participated in one of its retirement plans.

In the U.S. Bankruptcy Court for the District of Delaware on Monday, Grace moved to approve the deal, which would draw the Employee Retirement Income Security Act class action to a close.

While the ERISA suit didn't assert claims against Grace itself, the company's bylaws...
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