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GreatBanc Faces Another Setback In Tribune ERISA Suit

Law360 (March 8, 2011, 8:19 PM EST) -- An Illinois federal judge on Tuesday denied GreatBanc Trust Co.'s motion to reconsider an opinion that trimmed — but did not reject — an Employee Retirement Income Security Act class action brought after the infamous 2007 leveraged buyout of the Tribune Co.

GreatBanc had challenged three of the court's conclusions, according to Judge Rebecca R. Pallmeyer of the U.S. District Court for the Northern District of Illinois

For one thing, the company questioned whether the plaintiffs adequately alleged that Tribune shares purchased by the employee stock...
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