Sterling Financial Workers Say $3M Deal In ERISA Suit Is Fair

Law360, New York (March 4, 2013, 4:25 PM EST) -- Workers for Sterling Financial Corp. asked a Washington federal judge Friday to greenlight a $3 million settlement of a proposed Employee Retirement Income Security Act class action accusing the holding company of wrongly sinking company investment plans into Sterling stock when it was tanking, saying the deal is a fair shake.

Named plaintiffs Philip Laue and Lynne Hammond say the proposed settlement merits preliminary approval in light of its presumptive fairness, noting that settlement negotiations have occurred at arm’s length, there has been significant discovery, and...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Laue v. Sterling Financial Corporation et al


Case Number

2:10-cv-00018

Court

Washington Eastern

Nature of Suit

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

Judge

Edward F. Shea

Date Filed

January 20, 2010

Law Firms

Companies

Government Agencies

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.