Lucent Found Liable For Reducing Retiree Benefits

Law360, New York (June 13, 2008, 12:00 AM EDT) -- A federal judge has found that Lucent Technologies Inc., now part of Alcatel-Lucent, breached its obligations in 2003 to maintain health care benefits for retirees after tapping into excess pension assets, but refused to grant judgment for the other years in question.

The U.S. District Court for the District of New Jersey found Wednesday that the company had violated the Internal Revenue Code by reducing health benefits for retirees at the same time it was using excess pension assets to fund the benefits in 2003....
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