United Tech Took Laid-Off Workers' Stock, Class Action Says

Law360, New York (March 25, 2013, 7:30 PM ET) -- United Technologies Corp. was hit on Friday with a putative class action in New Jersey federal court filed by a former employee who says the technology conglomerate laid him off, then took back company stock it had issued him as an incentive to further his education.

Richard Grisafi's suit accuses United Technologies of eliminating his job through a reduction-in-force, then draining a stock account worth about $13,000, stock he says he earned as part of the company's employee scholar program, which rewarded employees with stock for...
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