Class Certified In International Paper ERISA Suit

Law360, New York (October 1, 2008, 12:00 AM EDT) -- A federal judge has certified a class of International Paper Co. employees who allege that exorbitant fees were charged against the assets of their 401(k) plans.

In an order issued Tuesday, Judge David Herndon of the U.S. District Court for the Southern District of Illinois rejected International Paper's argument that the plaintiffs have “highly individualized issues of proof.”

The suit focuses on an alleged injury to the plans, Judge Herndon said, rather than on an alleged injury to the individual participants.

The judge also rejected International...
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