7th Circ. Wants SC Johnson ERISA Damages Reconsidered

Law360, New York (June 22, 2011, 5:57 PM EDT) -- The Seventh Circuit affirmed Wednesday that members of a class of former S.C. Johnson & Son Inc. employees were underpaid when they withdrew lump sums from their pension plans, but ordered a lower court to reconsider the method it used to calculate damages.

Ruling on cross-appeals, the appeals court upheld a Wisconsin federal court's decision to dismiss some plaintiffs' Employee Retirement Income Security Act claims as untimely and to allow ERISA claims by plaintiffs who had received their lump sums later.

However, the appeals court reversed...
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.