Fourth Circuit Relieves US Airways Of ERISA Suit

Law360, New York (August 2, 2007, 12:00 AM EDT) -- A class of stock-owning employees of US Airways Inc. again had its class action under the Employee Retirement Income Security Act of 1974 foiled, with a circuit court Wednesday affirming a district court's judgment in favor of the once-bankrupt airline.

A three-judge panel of the U.S. Court of Appeals for the Fourth Circuit unanimously agreed with the district court that US Airways acted “both prudently and with loyalty” toward its employees in managing their 401(k)s during the company's troubled financial situation in the months after Sept....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.