Hospital To End ERISA Suit With $4M Payment

Law360, New York (March 10, 2017, 5:31 PM EST) -- A Chicago-area hospital will pay $4 million to settle a suit from former employees accusing it of unlawfully terminating their pension plan as well as underfunding it by $31 million in violation of the Employee Retirement Income Security Act.

U.S. District Judge Manish Shah granted preliminary approval to the settlement Thursday, which he called “sufficiently fair, reasonable, and adequate” to notify class members and give them a chance to object ahead of a June hearing for final approval.

Holy Cross agreed to pay $4 million in...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Butler et al v. Holy Cross Hospital et al


Case Number

1:16-cv-05907

Court

Illinois Northern

Nature of Suit

791(Labor: E.R.I.S.A.)

Judge

Honorable Manish S. Shah

Date Filed

June 6, 2016

Law Firms

Companies

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.