$2.4M Raydon ERISA Settlement Comes Up Short

Law360 (February 17, 2021, 5:25 PM EST) -- A Florida federal judge denied Raydon Corp.'s bid to settle an ERISA class action over a benefit plan's stock purchase for $2.4 million Wednesday, agreeing with a magistrate judge that two class members aren't entitled to $10,000 awards under recent Eleventh Circuit precedent.

U.S. District Judge Wendy Berger said she "agrees entirely" with U.S. Magistrate Judge Gregory Kelly's take that a September ruling from the Eleventh Circuit bars Stephanie Woznicki and Briana Tatum from collecting service awards in exchange for lending their names to the case as purported class representatives. 

The class' attorneys sought service awards for both Woznicki, a former...

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