JDS Uniphase Settles Putative ERISA Class Action

Law360, New York (September 28, 2009, 2:44 PM EDT) -- Optical components maker JDS Uniphase Corp. has reached a settlement with a putative class of 401(k) plan participants and beneficiaries accusing the company and numerous individuals of breaching their fiduciary duties by letting two plans invest in JDSU stock when they knew or should have known that it was a bad investment.

Judge Claudia Wilken signed off on an order Friday denying a summary judgment motion from the defendants without prejudice and noting that the parties had executed a settlement Sept. 15.

The plaintiffs will seek...
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