Plaintiffs Drub Class Expert In Kraft ERISA Action

Law360, New York (April 28, 2011, 3:40 PM EDT) -- Plaintiffs accusing Kraft Foods Global Inc. of mismanaging pension funds fired back Wednesday at the company's effort to decertify their Illinois class action, blasting a Kraft expert witness who argued that no Employee Retirement Income Security Act suit is class-certifiable.

The plaintiffs claim Kraft's way of structuring its fund, which invested in company stock, cost them money in management fees and through drag, an alleged violation of ERISA. Drags are investment disadvantages of unitized pension plans that can cause the fund to trail the greater stock...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

George et al v. Kraft Foods Global, Inc. et al


Case Number

1:08-cv-03799

Court

Illinois Northern

Nature of Suit

791(Labor: E.R.I.S.A.)

Judge

Honorable Ruben Castillo

Date Filed

July 2, 2008

Law Firms

Companies

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.