Mack Trucks, Volvo to pay $525M to settle suit
Headline Legal News | 2011/05/19 16:07
Mack Trucks Inc. and its parent, AB Volvo, will pay $525 million to settle a class-action lawsuit filed by more than 9,300 retirees of the North Carolina truck maker after they challenged potential reductions to their lifetime health benefits.

The Legal Intelligencer reported Tuesday that Senior U.S. District Judge R. Barclay Surrick gave preliminary approval of the settlement. A hearing is Sept. 7 to decide if the settlement is fair and reasonable.

The suit was filed in Michigan after Mack sought a ruling that lifetime benefits of its retirees were not vested and could be modified or eliminated. Both cases were consolidated in the Eastern District of Pennsylvania.

Mack reached an agreement with the UAW in May of 2009 on a voluntary employees beneficiary association, or VEBA, that would have the union oversee retirees' health benefits. Mack and Volvo agreed to fund it with $525 million, paid in five annual installments.

Mack said it expects the final approval of the VEBA in September.

The company also reported that deliveries nearly doubled in April from a year earlier with 1,608 trucks delivered from the 810 it recorded in April 2010, an increase of 99 percent.


[PREV] [1] ..[1562][1563][1564][1565][1566][1567][1568][1569][1570].. [2082] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Manhattan DA drops part of Weinst..
Supreme Court wrestles with case ..
Top French court to rule on fault..
Polish leader appoints top court ..
Kavanaugh to hear his 1st argumen..
Texas Supreme Court to hear sex o..
Kavanaugh to attend White House e..
Massachusetts high court to weigh..
Cemetery case puts property right..
Indian court allows deportation o..
UN court orders US to lift some I..
Supreme Court could limit executi..
Supreme Court won't hear case ove..
Trial set for 1 of 4 impeached W...
US Supreme Court declines to hear..
Supreme Court term amid starts in..
Nominee's attack on Democrats pos..
India's top court lifts temple's ..
UN court asked to probe Venezuela..
Trump picks combat over caution i..




Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
New Rochelle Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Indianapolis, IN Personal Injury Law Firm
Indian Personal Injury Attorneys
www.rwp-law.com
Downtown Manhattan Business Law Attorneys
Breach of Contract Lawyers
www.woodslaw.com
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. Legal Marketing Blog. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Web Design by Lawyer Website Design - Lawyer Web Site Design That Works