AK Steel Retirees File 2nd ERISA Class Action

Law360, New York (June 19, 2009, 12:00 AM EDT) -- Retirees excluded from a previous Employee Retirement Income Security Act lawsuit against AK Steel Corp. have launched their own class action alleging AK Steel Corp. improperly reduced vested retiree benefits in violation of the collective bargaining agreements it entered with its work force.

The complaint, lodged Thursday in the U.S. District Court for the Southern District of Ohio, claims unilateral cutbacks AK Steel imposed on its retiree benefit plans in October 2006 are barred by the terms of the steelmaker’s promise to its unions to provide...
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