Employees who worked for Tyco International when it was run by corrupt executives have won class action status for their suit over the company's retirement savings plan. The workers claim that Tyco hid the company's true value when offering its stock as an investment option in the plan. The lawsuit is one of several shareholder suits consolidated in the U.S. District Court for New Hampshire. Other former stockholders, including large investment funds, received class status in June.
August 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
People employed by Tyco International when it was run by corrupt executives have won class action status for their lawsuit over the company’s retirement savings plan.
The employees claim Tyco hid the true value of the company when offering its stock as an investment option in the plan and knew the stock was a bad investment.
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