Beazer, Employees Strike $5.5M Deal In ERISA Suit

Law360, New York (August 12, 2010, 3:28 PM EDT) -- A federal judge has granted preliminary approval to a $5.5 million settlement between Beazer Homes USA Inc. and current and former employees who claim their retirement funds collapsed because the company invested their 401(k)s in Beazer stock.

Judge Richard W. Story of the U.S. District Court for the Northern District of Georgia on Tuesday said that the settlement, filed July 19, appeared fair and met all standards for approval. The judge set a Nov. 15 date for a fairness hearing.

The first class action case against...
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