3rd Circ. Upholds Dismissal Of Avaya ERISA Suit

Law360, New York (November 17, 2008, 12:00 AM EST) -- A federal court of appeals has affirmed the dismissal of a proposed Employee Retirement Income Security Act class action against Avaya Inc., which was prompted by the company's spin-off from Lucent Technologies and its stock troubles.

A three-judge panel of the U.S. Court of Appeals for the Third Circuit said Thursday that Byron Ward failed to state his case well enough to overcome the presumption that the defendants acted within their discretion in performing their fiduciary duties.

Ward, a former employee of Lucent, brought the case...
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