Electronic Data Systems Nears Deal In ERISA MDL

Law360, New York (December 20, 2007, 12:00 AM EST) -- Electronic Data Systems Corp. is inching closer to settling ERISA claims filed by a purported class of more than 85,000 employees who accused the technology services company of enticing improper investments of retirement funds into company stock.

The parties in the consolidated litigation in the U.S. District Court for the Eastern District of Texas on Wednesday filed a joint motion to stay the case pending a final settlement.

“Currently the parties are discussing the more minute details of a proposed settlement,” the motion said. “In light...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.