3rd Circ. Affirms Unisys Breached ERISA

Law360, New York (September 3, 2009, 4:15 PM EDT) -- A federal appeals court has upheld a district court's ruling that computer manufacturer Unisys Corp. breached the Employee Retirement Income Security Act by terminating retiree health care coverage after implying the benefits were vested rights.

In an opinion issued Wednesday, the U.S. Court of Appeals for the Third Circuit rejected Unisys' claim that it could not be held liable because it did not plan to terminate the coverage at the time its employees joined.

The case in question was one of hundreds filed as part of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.