Towers Perrin Beats Principals' Suit Over Watson Wyatt Merger

Law360, New York (December 13, 2012, 2:04 PM EST) -- A Pennsylvania federal judge on Tuesday tossed a proposed class action alleging former human resources services firm Towers Perrin Forster & Crosby Inc.'s merger with a publicly traded company cost its retired principals millions, saying the plaintiffs failed to show Towers Perrin promised to remain private.

The former principals claimed Towers Perrin's merger with Watson Wyatt Worldwide Inc., which created professional services firm Towers Watson, breached company communications that promised Towers Perrin would remain private and compelled retiring principals to sell their shares to incoming principals...
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