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Konya et al v. Lockheed Martin Corporation
Case Number:
8:24-cv-00750
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
- Darby Law Group LLC
- Kantor & Kantor
- Lerch Early
- Mayer Brown
- Morgan Lewis
- Schlichter Bogard
- Zuckerman Spaeder
Companies
Sectors & Industries:
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April 29, 2025
Retirees Fight Lockheed's Quick Appeal Push In Annuity Suit
Lockheed Martin retirees urged a Maryland federal judge not to allow the company to immediately challenge a ruling that kept alive their suit claiming Lockheed illegally pushed workers' pensions into risky annuities, arguing an appeal would be premature even though a similar case was recently tossed out.
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April 04, 2025
Pension Annuity Rulings Leave Attorneys Looking For Clarity
Benefits attorneys say they'll be watching the circuits, and perhaps the nation's highest court, for clarity after recent divergent decisions in cases accusing defense and aerospace manufacturer Lockheed Martin and aluminum giant Alcoa of violating federal benefits law by converting pension benefits into annuity insurance contracts.
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March 31, 2025
Lockheed Martin Can't Escape Retirees' 'De-Risking' Suit
Aerospace and defense giant Lockheed Martin can't shed former employees' allegations it mismanaged a $9 billion employee pension plan by using an allegedly risky annuity provider to handle the plan on behalf of 31,000 beneficiaries, a Maryland federal judge has determined.
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April 26, 2024
ERISA Suits Targeting Annuity Deals Could Escalate
A quartet of lawsuits targeting employers who terminate their pension plans and exchange them for annuity insurance contracts could trigger a new wave of class action litigation if they gain traction, since hundreds of thousands of retirees have been subject to pension risk transfers in recent years, attorneys say.
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March 14, 2024
Lockheed Offloaded Pensions In Risky Deal, Retirees Say
A group of retirees claim aerospace defense company Lockheed Martin committed an "egregious act of disloyalty" when it passed off $9 billion in pension responsibilities for 31,000 beneficiaries to a risky annuity provider, according to a suit filed in Maryland federal court.