Visteon Dropped From ERISA Suit Over Ford Spinoff

Law360, New York (April 28, 2009, 12:00 AM EDT) -- A federal judge has dismissed Visteon Corp. from a case alleging that the auto parts manufacturer and its former owner, Ford Motor Co., colluded to deprive employees of retirement benefits as Ford spun off and then partially reacquired Visteon.

Judge Victoria Roberts ruled that the plaintiffs had failed to establish that they were entitled to relief or compensation from Visteon, according to an order filed Monday in the U.S. District Court for the Eastern District of Michigan.

Ford remains a defendant in the case.

Although Judge...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.