Class Certified In Lockheed ERISA Fight

Law360, New York (April 6, 2009, 12:00 AM EDT) -- A federal judge has granted class certification in an Employee Retirement Income Security Act lawsuit accusing Lockheed Martin Corp. of breaching its fiduciary duty in its handling of two employee investment plans.

In a decision Friday, Judge Michael J. Reagan of the U.S. District Court for the Southern District of Illinois granted class certification to plaintiffs who participated in two investment plans: the Salaried Savings Plan and the Hourly Savings Plan, both considered defined contribution plans.

The judge also said that the law firm of Schlichter...
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