SunEdison Retirees Say Bankruptcy Shouldn't Halt ERISA Suit

Law360, New York (June 15, 2016, 3:22 PM EDT) -- Former SunEdison employees are seeking to jumpstart a Missouri federal proposed class action claiming that company directors violated the Employee Retirement Income Security Act by offering inflated company stock as a retirement plan investment option, saying a bankruptcy judge already gave the go-ahead.

The group of SunEdison retirement plan participants hit the company and its directors with suits in January and February, but the since-consolidated case was closed in April after SunEdison filed for Chapter 11 bankruptcy. The proposed class of participants argued Tuesday that they should be allowed to reopen the ERISA case against the company's investment committee and a...

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