Ingersoll-Rand Workers Sue Over $900M Divestiture

Law360, New York (March 12, 2010, 5:16 PM EST) -- A group of several dozen Ingersoll-Rand Co. employees has filed an amended breach of contract complaint alleging the company defrauded them in connection with the $900 million sale of its Dresser-Rand Co. unit.

Ingersoll-Rand did not issue benefits from the sale of the subsidiary to its employees as it had promised under an incentive plan, the workers said in the amended complaint filed in the U.S. District Court for the District of New Jersey on Thursday.

In 1999, Dresser-Rand was a joint venture 49 percent owned...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.