A Manhattan federal judge said Wednesday that she would approve a $4.7 million settlement for a class of IBM employees in a long-running lawsuit that worked its way all the way up to the U.S. Supreme Court and back again.

The ruling, from U.S. District Judge Colleen McMahon of the Southern District of New York, capped nearly six years of litigation in the case, which was complicated by heightened standards for pleading violations of fiduciary duties under the Employee Retirement Income Security Act of 1974.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]