Judge Issues Mixed Ruling In Conexant ERISA Suit

Law360, New York (August 28, 2008, 12:00 AM EDT) -- A federal judge on Wednesday upheld key allegations in a putative class action after an employee of semiconductor-maker Conexant Systems Inc. accused it of mismanaging its 401(k) plan by overloading it with company stock, potentially costing employee-investors millions.

The mixed ruling came about a year after the U.S. Court of Appeals for the Third Circuit overturned the dismissal of the case, Howard Graden, individually and on behalf of all others similarly situated vs. Conexant Systems Inc. et al., in the U.S. District Court for the District...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.