Oneida ERISA Fraud Suit To Move Forward

Law360, New York (May 9, 2008, 12:00 AM EDT) -- A federal judge has ruled that a class action claiming fiduciaries of Oneida Ltd.'s employee retirement plan mismanaged the plan's assets can continue, denying the defendants' bid to toss the suit.

Judge Neal P. McCurn said in an order issued Friday in the U.S. District Court for the Northern District of New York that the plaintiffs, whose accounts included investments in Oneida common stock, will be allowed to proceed with the lawsuit against all of the defendants named in the complaint.

“Plaintiffs have adequately pleaded an...
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