$179M Settlement Ends AK Steel Health Benefits Action

Law360, New York (January 11, 2011, 3:32 PM EST) -- A federal judge has given final approval to a $178.6 million settlement resolving an Employee Retirement Income Security Act class action brought by retired AK Steel Corp. workers who accused the company of illegally reducing their health benefits.

Judge Timothy S. Black of the U.S. District Court for the Southern District of Ohio signed off on an order Monday granting the parties' bid for final approval of the deal.

Also on Monday, Judge Black granted the plaintiffs' attorneys' motion for $9.1 million to cover their fees...
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