Engineering Co. Can't Renege On $2M Deal, Judge Rules
By Braden Campbell (January 23, 2017, 6:05 PM EST) -- An engineering company must pay more than $2 million to the trustees of four Employee Retirement Income Security Act plans in accordance with a binding memorandum of understanding, despite the parties' failure to reach and sign a final settlement, a California federal court has ruled.
In a decision Thursday, U.S. District Judge Christina A. Snyder said Smith-Emery Co. had intended for its September agreement with the retirement plan trustees to resolve two suits over allegedly unpaid contributions to the funds, and its later claims the pact's provisions are unacceptable can't change that.
"What SEC [Smith-Emery Co.] claims it would agree to...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!