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2nd Circ. Says Booz Retirees May Have Securities Fraud Suit

Law360, New York (July 14, 2017, 5:07 PM EDT) -- The Second Circuit on Thursday partly resuscitated a suit against Booz Allen Hamilton Inc. by retirees of the government contractor who say they were ripped off when the company was split in 2008, saying the plaintiffs had no case under the Employee Retirement Income Security Act but that a securities class action is possible.

Bruce Pasternack, Reginald Boudinot and Paul Kocourek all retired from Booz Allen before a 2008 deal that split the company’s fast-growing contracting side from its traditional consulting business, which was eventually folded...
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