Tyco Can’t Exclude Premerger Contributions: Judge

Law360, New York (April 13, 2009, 12:00 AM EDT) -- A federal judge has shot down a bid by Tyco International Ltd. to exclude certain 401(k) contributions inherited through Tyco’s mergers with other companies from plan participants’ calculation of damages in a class action that is part of multidistrict litigation alleging a massive accounting fraud.

Judge Paul Barbadoro of the U.S. District Court for the District of New Hampshire on Thursday issued an oral order denying Tyco’s motion for partial summary judgment without prejudice, according to court dockets.

Tyco’s motion, filed in December, centered on the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.