Ingersoll-Rand Workers Sue Over $900M Divestiture

By Christopher Norton

Law360, New York (March 12, 2010, 5:16 PM ET) -- A group of several dozen Ingersoll-Rand Co. employees has filed an amended breach of contract complaint alleging the company defrauded them in connection with the $900 million sale of its Dresser-Rand Co. unit.

Ingersoll-Rand did not issue benefits from the sale of the subsidiary to its employees as it had promised under an incentive plan, the workers said in the amended complaint filed in the U.S. District Court for the District of New Jersey on Thursday.

In 1999, Dresser-Rand was a joint venture 49 percent owned...
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