Retirees Score $17.4M In NorthWestern Pension Spat

Law360, New York (February 23, 2007, 12:00 AM EST) -- After a heated battle, a federal jury ruled Thursday that NorthWestern Energy must fork over $17.4 million to a group of retirees that sued the power company after it slashed their supplemental pensions.

Th1e jury handed 15 retired Montana Power Co. executives about $1 million apiece as retribution for NorthWestern’s decision to ditch the group’s pension payments back in 2004.

The verdict capped a 10-day trial in Butte district court, which began on Feb. 12 with U.S. District Judge Brad Newman presiding.

The roots of the...
To view the full article, register now.

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.