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Dana agrees to settle with retiree committee: law firm
Legal Careers News |
2007/09/05 06:37
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| Law firm Stahl Cowen Crowley LLC, counsel to Dana Corp's retiree committee, said the autoparts maker agreed to set up a trust to fund retiree benefits. As a part of a settlement, Dana will pay for retiree benefits for non-union retirees through July 1 and will contribute $78 million to fund the trust, the Chicago-based law firm said in a statement. The company will also pay for the cost of setting up the trust and will work with the retiree committee to explore offering life insurance conversions when and if the underlying policies allow for conversions.
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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