Solvay Shakes ERISA Pension Plan Action In 10th Circ.

Law360, Los Angeles (July 2, 2013, 7:31 PM EDT) -- The Tenth Circuit on Tuesday scrapped a class action alleging that Solvay Chemicals Inc. violated the Employee Retirement Income Security Act when the company implemented a new retirement plan, ruling that it didn't intentionally misinform employees about their benefits.

A three-judge panel said that Solvay executives didn't deliberately fail to state how early retirement benefits were calculated under the old pension plan when it informed employees of changes in January 2005. Finding that the company's conduct wasn't egregious and that a district court didn't misread ERISA...
To view the full article, register now.
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.