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Article: Tentative Settlement of Lawsuit.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Caterpillar Inc. (NYSE: CAT) and the law firm of Schlichter, Bogard & Denton announced they have reached a tentative settlement of Martin, et al. v. Caterpillar Inc., et al., Case No 07-1009. The case involves a dispute over the administration of four 401(k) plans for Caterpillar employees and retirees and is currently pending before Judge Joe Billy McDade of the U.S. District Court for the Central District of Illinois. Under the tentative settlement, which must be approved by an independent fiduciary and Judge McDade, Caterpillar will pay $16.5 million. The net proceeds of the settlement, after court-approved attorney's fees and expenses of settlement administration have ...