Monster ERISA Class Action Settled For $4.25M

Law360, New York (December 4, 2009, 2:09 PM EST) -- A federal judge has granted preliminary approval toward a $4.25 million settlement between Monster Worldwide Inc., which owns the popular Monster.com job-search Web site, and a class of plaintiffs alleging the company and its executives breached their fiduciary duty by artificially inflating stock prices to the detriment of employees' retirement plans.

Judge Alvin Hellerstein of the U.S. District Court for the Southern District of New York on Thursday granted preliminary class certification and preliminary approval of the settlement between the plaintiffs and some of its executives....
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