Ford, ERISA Plaintiffs Strike Class Action Deal

Law360, New York (August 30, 2010, 6:25 PM EDT) -- Ford Motor Co. has finalized a settlement with a class of current and former employees who claimed the auto giant caused $6 billion in damages to their retirement plans by investing too heavily in company stock.

The settlement calls for Ford to provide the class members with online financial advice tools but no monetary relief, according to a motion filed Friday in the U.S. District Court for the Eastern District of Michigan.

It would also require Ford to choose a qualified third party to conduct fiduciary...
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