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Westlaw News

2nd Circuit boots Foot Locker's bid to overturn $180 mln ERISA verdict

The 2nd U.S. Circuit Court of Appeals on Thursday upheld a $180 million verdict for Foot Locker Inc employees who said the company misled them about major changes to a pension plan, in a case that drew the attention of the U.S. Department of Labor and the country’s largest business group.

In a unanimous ruling, a three-judge panel rejected claims by Foot Locker and its lawyers at Proskauer Rose that the 16,000 class members should have been required to individually show that they relied to their detriment on misleading statements by the company, and that more than 10,000 of them had claims that were time barred.

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