Towers To Settle Trucking Co. Pension Suit For $9.2M

Law360, New York (May 10, 2011, 3:24 PM EDT) -- Towers Perrin Forster & Crosby Inc. agreed Friday to pay $9.2 million to settle a class action in California brought by former Consolidated Freightways Corp. employees over actuarial work on pensions that were slashed when the trucking company shut down.

The parties submitted the deal to a California federal court for preliminary approval, seeking to bring an end to a seven-year legal battle accusing Towers Perrin of negligently performing actuarial services for the pension plan, which allegedly led to the termination of the plan in an...
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