Nokia Hit With ERISA Action Over 'Risky' Stocks

Law360, New York (December 13, 2012, 1:59 PM EST) -- Nokia Corp. was hit with a proposed class action Monday in California federal court, lodged by a group of retirees who allege the company's retirement plan made risky investments in Nokia stock even as the company's financial state crumbled.

Participants in a Nokia retirement plan — led by named plaintiff Ruben Romero — sued as a putative class and alleged the pension plan's “imprudent” investments in company stock represented a violation of the Employee Retirement Income Security Act. In addition to the company, the suit names...
To view the full article, register now.




Case Information

Case Title

Romero v. Nokia, Inc. et al

Case Number



California Northern

Nature of Suit

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


Phyllis J. Hamilton

Date Filed

December 10, 2012

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.