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Third Circuit Rules In Favor Of ExxonMobil In ERISA Suit

Law360 (October 23, 2006, 12:00 AM EDT) -- A federal appeals court has rejected claims from terminated employees of Mobil Corp. that they are entitled to a severance plan outlined by the oil company just before it merged with rival Exxon Corp.

Overturning a district court’s decision, the U.S. Court of Appeals for the Third Circuit ruled that ExxonMobil Corp. doesn’t have to pay severance to certain employees who were laid off after the November 1999 merger.

The appeals court disagreed with the district court's decision that an initial summary plan description from Mobil...
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