Appellate Court Remands ERISA Suit Against Guidant

Law360, New York (June 6, 2007, 12:00 AM EDT) -- An appellate court on Tuesday ruled that former employees of defibrillator maker Guidant Corp. have standing to bring a class action ERISA suit against the company and its directors for breach of fiduciary duty, and remanded the case.

The U.S. Court for Appeals for the Seventh Circuit vacated the ruling of the lower court, which decided that the representative plaintiffs, former Guidant employees who took part in the company’s employee pension plan, did not have standing to bring the suit because they had cashed out their...
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.