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....
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