Retiree Claims ERISA Breach In Bloomberg's $990M BNA Buy

Law360, New York (June 7, 2012, 9:18 PM EDT) -- A former Bureau of National Affairs Inc. employee brought a putative class action against the news agency's principals Monday in Virginia federal court, alleging they failed to inform retirees adequately last year about Bloomberg's pending $990 million bid for BNA, in violation of the Employee Retirement Income Security Act.

Delaware resident Judith Knight claims BNA directors and members of the company's administrative committee, which oversaw its 401(k) plan, did not inform her that BNA was in talks with Bloomberg to sell the company for more than...
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