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Class Status Granted In JPMorgan ERISA Suit

Law360 (June 4, 2007, 12:00 AM EDT) -- A federal judge has granted class status to a plaintiffs group that alleges the way JPMorgan Chase & Co. calculates pension benefits constitutes age discrimination.

U.S. District Judge Harold E. Baer Jr. on Thursday ruled in favor of the plaintiffs, certifying the class of ex-JPMorgan workers who have accused their former employer of an array of ERISA violations.

“Plaintiffs seek to reform the JPMC Plan so that benefit accruals do not decrease with age, which is in the interest of all putative class members,” the opinion...
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