March 3 2006
A class action lawsuit was filed against the company regarding pension benefits. The suit was filed on behalf of 1,250 former employees who were retired or terminated after January 1, 1995 and received their pension benefits by April 1, 2005 under the Retirement Accumulation Pension Plan. The class action claims AK Steel miscalculated the lump sum payment and violated federal laws to make underpayments. A federal judge has ordered AK Steel Corp. to pay a $46.2 million settlement to former employees. (Mar-03-06)
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