Class Cert. Denied In Diebold ERISA Suit

Law360, New York (March 11, 2009, 12:00 AM EDT) -- A federal judge on Wednesday denied class certification to over 6,000 former and current employees of automatic teller manufacturer Diebold Inc. who allege the company and its top executives issued misleading statements and mismanaged its employees’ retirement benefits.

In a memorandum opinion and order signed in the U.S. District Court for the Northern District of Ohio, Judge Peter C. Economus denied the plaintiffs’ motion for certification, ruling that because different plaintiffs held different amounts of company stock in Diebold’s retirement plan that varied over time, these...
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