Principal's ERISA Deal Bars Class Cert. Appeal: 8th Circ.

Law360, New York (February 13, 2013, 5:32 PM EST) -- The Eighth Circuit on Wednesday threw out a retirement plan trustee's appeal of a class certification denial in a suit alleging Principal Life Insurance Co. violated the Employee Retirement Income Security Act, finding the appeals court lacks jurisdiction due to terms of a settlement in the case.

A three-judge panel held that while the appeals court has jurisdiction of appeals from all “final decisions” of district courts, the settlement agreement’s provision that allows the trustee of the Fairmount Park Inc. Retirement Savings Plan to appeal the...
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