Class Certification Granted In ERISA Suit Alleging Severe Underfunding

Mealey's (March 11, 2021, 12:07 PM EST) -- LOS ANGELES — A federal judge in California on March 9 certified a class of pension plan participants who are accusing the plan administrator and plan trustees of breaching their duties of prudence and loyalty under the Employee Retirement Income Security Act by “dangerously underfund[ing]” the plan and failing “to provide meaningful benefits.”...