ERISA Class Action Certified Against Kraft

Law360, New York (July 18, 2008, 12:00 AM EDT) -- A federal judge has granted class action status to a lawsuit that accuses Kraft Foods Global Inc. of breaching its fiduciary duties by failing to rein in fees and expenses levied against one of its 401(k) plans.

Kraft had argued that the class was overly broad because it included people with time-barred claims and people who executed releases, because future participants lacked constitutional standing and because former participants cannot sue under the Employee Retirement Income Security Act.

But Magistrate Judge Sidney I. Schenkier of the U.S....
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