Textron Takes 2nd Shot At Nixing ERISA Action

Law360, New York (September 21, 2011, 3:35 PM EDT) -- Textron Inc. asked a Rhode Island federal judge Tuesday to reconsider his refusal to dismiss a class action claiming the defense conglomerate breached its fiduciary duty by allowing employees to invest portions of their retirement funds in the company's inflated stock.

Earlier this month, U.S. District Judge Paul J. Barbadoro said he needed to hear more arguments before determining whether the Employee Retirement Income Security Act required Textron to disclose damaging information about the company in order to warn employees against investing in the shaky stock....
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Case Title

Harrington et al v. Textron Inc. et al


Case Number

1:09-cv-00504

Court

Rhode Island

Nature of Suit

Labor: E.R.I.S.A.

Judge

Mary M Lisi

Date Filed

October 20, 2009

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