Workers Agree To Drop $320M Suit Against Hospital Network

Law360 (October 16, 2020, 4:24 PM EDT) -- Franciscan Alliance Inc.'s current and former workers agreed Friday to drop their proposed class action claiming the hospital network exaggerated its connection with the Catholic Church to obtain an Employee Retirement Income Security Act exemption that let it underfund its pension plan by $320 million.

The workers and hospital network made the agreement official in a stipulation of dismissal with prejudice filed in Indiana federal court, which indicates the suit is over and each party will assume responsibility for its own attorney fees and costs. The stipulation arrives a month after the workers and Franciscan Alliance told the court in a...

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