Class action status is being sought in a lawsuit filed against Abbott Laboratories and Hospira on behalf of approximately 10,000 U.S. employees who were denied retirement benefits as part of Abbot's spin off its hospital products division into a separate company. The suit claims that at the time of the spin off, about 70% of the employees were over the age of 40, and were eligible to earn "substantial employee benefits" under Abbott's plans as they approached their retirement, however the company instead "terminated" the employees to prevent them from earning these benefits.
Case WatchJudge Gettleman granted class certification on Counts I-III. Plaintiffs have filed an additional claim for breach of fiduciary duty, which defendants have moved to dismiss. Judge Gettleman is scheduled to rule on that motion on Apr-20-06.
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Last updated April 7 2006
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