FedEx Driver Policy Prompts Shareholder Suit

Law360, New York (May 8, 2008, 12:00 AM EDT) -- In addition to employment class actions across the country, FedEx Corp. is now facing a shareholder suit challenging its practice of classifying delivery drivers as independent contractors rather than employees.

Rhode Island-based Plumbers and Pipefitters Local 51 Pension Fund filed the suit Thursday in the U.S. District Court for the Western District of Tennessee, where FedEx's Memphis headquarters is located. According to the suit, the fund purchased FedEx Corp. shares in 2000 and is still a shareholder.

The suit claims that members FedEx's board breached their...
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