Oneida ERISA Class Action Settled For $1.85M

Law360, New York (June 18, 2010, 1:37 PM EDT) -- A judge has preliminarily approved a deal to resolve all claims in a class action claiming fiduciaries of Oneida Ltd.'s employee retirement plan mismanaged the plan's assets.

Judge Neal P. McCurn in the U.S. District Court for the Northern District of New York signed off on the agreement Tuesday, saying the settlement is fair, reasonable and adequate.

The retirement plan covered by the settlement is the Oneida Ltd. Employee Stock Ownership Plan established June 8, 1987, as amended or restated at any time up to and...
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