Alcatel Retirees Halt Bid For Class Status

Law360, New York (June 7, 2007, 12:00 AM EDT) -- Retired workers suing telecommunications software company Alcatel USA Inc. over cuts to their pension plans want to withdraw their motion for class status to save the case.

The retirees told a Texas district court that their failed bid for an injunction against the company could irreparably damage the classwide claims if a pending appeal proved unsuccessful.

Until the U.S. Court of Appeals for the Fifth Circuit had a chance to rule on the lower court's dismissal of their motion for injunctive relief, the plaintiffs would hold...
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.