Diebold Asks Court To Toss ERISA Class Action

Law360, New York (August 15, 2007, 12:00 AM EDT) -- Automatic teller manufacturer Diebold Inc. asked a federal court on Tuesday to throw out a purported class action lawsuit which alleged that the company had mismanaged its employees' retirement benefits, saying the plaintiffs' claims rested on securities law rather than employment law.

The plaintiffs' complaint said Diebold had artificially inflated its stock prices in order to mislead its employees into investing their pensions in the company's stock. Diebold has responded by asserting that a charge misrepresenting the true value of securities is governed by securities law,...
To view the full article, register now.




Case Information

Case Title

In re: Diebold ERISA Litigation

Case Number



Ohio Northern

Nature of Suit

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


John R. Adams

Date Filed

January 24, 2006

Law Firms


Government Agencies

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.