AK Steel’s $2.5M ERISA Payout To Spouses Gets Court OK

Law360, Washington (November 25, 2013, 4:56 PM EST) -- An Ohio federal judge on Friday approved a $2.5 million class action settlement in an Employee Retirement Income Security Act brought by surviving spouses of AK Steel Corp. workers accusing the company of wrongly decreasing their spousal pension benefits.

The settlement, which stipulates that AK Steel pay $800,000 in plaintiff attorneys’ fees and $1.7 million to class members, comes about five years after the court certified the class. A trial in the case had been scheduled last year but was postponed after the parties entered mediation, court...
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