Judge Spots ‘Overly Broad Release,’ Denies Settlement In Northrop Grumman Suit

Mealey's (July 14, 2020, 3:15 PM EDT) -- LOS ANGELES — Aerospace company Northrop Grumman Corp. and class action plaintiffs that sued over alleged breaches of fiduciary duties in the management of the company’s 401(k) retirement savings plan cannot go forward with an almost $12.4 million settlement, a California federal court ruled June 30, saying the agreement releases claims beyond the class action allegations (Clifton Marshall, et al. v. Northrop Grumman Corp., et al., No. 16-6794, C.D. Calif., 2020 U.S. Dist. LEXIS 118496)....