Sprint Nextel Corp.

A class action lawsuit was filed on behalf of current and former employees claiming their retirement accounts were degraded by being tied to the company's stock. The class included more than 85,000 employees who had money in the company's retirement plan since 1998. Sprint company officials denied wrongdoing in the case, but agreed to a $29 million class action settlement to put the case behind them. (Aug-10-06) [BUSINESS WEEK]

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