Motorola Prevails In ERISA Suit Over Telsim Deal

Law360, New York (June 19, 2009, 12:00 AM EDT) -- Motorola Inc. has won its fight to toss a class action by participants in the company's 401(k) plans stemming from its botched deal with Turkish telecommunications company Telsim, saying the company and its executives had no fiduciary obligations to reveal problems with the transaction.

Judge Rebecca Pallmeyer of the U.S. District Court for the Northern District of Illinois granted Motorola summary judgment on Wednesday, ruling that the company was shielded from liability by plan participants under the safe harbor provision of the Employee Retirement Income Security...
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