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Auto Parts Company Slapped With ERISA Suits

Law360 (August 8, 2006, 12:00 AM EDT) -- Employees of Lear Corp. have class action lawsuits against the automotive interior company and its board of directors, claiming they should have protected employees’ retirement savings plan from predictable losses in the shaky auto market.

Lear Corp. disclosed the four lawsuits Tuesday in a financial filing with the U.S. Securities and Exchange Commission. In May, the cases were consolidated into one case in the U.S. District Court for the Eastern District of Michigan.

The lead case alleges that little was done to protect the pension plan...
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