Diebold Settles ERISA Claims For $4.5M

Law360, New York (August 26, 2010, 1:17 PM EDT) -- ATM manufacturer Diebold Inc. has reached a $4.5 million deal with over 6,000 participants in its 401(k) plan to resolve their claims that the company and its top executives issued misleading statements and mismanaged its employees’ retirement benefits.

Judge Peter C. Economus gave his preliminary blessing to the settlement agreement Wednesday in the U.S. District Court for the Northern District of Ohio.

The settlement class includes all participants in or beneficiaries of the Diebold Inc. 401(k) Savings Plan at any time between Oct. 22, 2003, and...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In re: Diebold ERISA Litigation


Case Number

5:06-cv-00170

Court

Ohio Northern

Nature of Suit

Labor: E.R.I.S.A.

Judge

John R. Adams

Date Filed

January 24, 2006

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.