Old Second Strikes $7.5M Deal In Pension Investment Suit

Law360, New York (February 26, 2013, 8:54 PM EST) -- Old Second Bancorp Inc. reached a $7.5 million settlement in a class action that faulted the company and other fiduciaries for failing to divest Old Second stock after it stopped being a prudent investment for an employee pension plan, the plaintiffs told a Chicago federal court Tuesday.

Former Old Second National Bank employees Mary Dalton and Emil Adolphson asked the court to preliminarily approve the $7.5 million deal in their Employee Retirement Income Security Act case, saying the pact was fair and reasonable and provided for...
To view the full article, register now.




Case Information

Case Title

Dalton et al v. Old Second Bancorp, Inc. et al

Case Number



Illinois Northern

Nature of Suit

791(Labor: E.R.I.S.A.)


Honorable Milton I. Shadur

Date Filed

February 16, 2011

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.