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...
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