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Case ID: 3891 | Employment | 11/02/2004
A class action has been filed on behalf of current and former employees of energy distributor Aquila, Inc. (NYSE: ILA) who participated in its Retirement Investment and Stock Purchase plans between January 1, 1999 and May 5, 2004. The suit alleges that Aquila induced plan participants to make significant investments in Aquila stock through misrepresentations regarding the financial status of the company, in violation of the Employee Retirement Income Security Act (ERISA).
The complaint alleges that Aquila knew that the company’s financial future was uncertain and nonetheless weighted its retirement plans toward the purchase of company stock and made statements to plan participants designed to induce them to make significant investments in company stock through the retirement and stock purchase plans. These actions violated Aquila’s fiduciary duties to the plan participants and run contrary to federal law, plaintiff’s claim. The plaintiffs seek damages for their lost investment value together with interest, costs and other statutory damages. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Employment Cases of Interest Overtime pay is a hot-button issue in the legislative and judicial sectors today. The class has been certified in an action filed against Eastman Kodak Company on behalf of current and former employees of the company alleging that Kodak's overtime payment policies have violated state and federal labor laws since 1996. A class action lawsuit has been filed in Northern District Court of Illinois against Rossi Real Estate Corporation. The case involves violations of the Fair Labor Standards Act which establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. A class action lawsuit has been filed in the United District Court for the Southern District of Florida against Kaplan, Inc. The case involves violations of employment law, specifically of the Fair Labor Standard Act (FLSA). No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. In a lawsuit filed in federal court, twenty-one former employees of CooperSurgical Inc. charged the Company with age discrimination in connection with their terminations following CooperSurgical's acquisition of Milex Products, Inc. in February 2004.
A Los Angeles Superior Court Judge granted preliminary approval to a $5,348,000 settlement of class action litigation. Finding the proposed settlement to be fair and reasonable, the order deals with disputed payroll practices in the entertainment industry in California. A statewide collective action has been filed in Florida against Nical of Palm Beach. The action is brought on behalf of all current and former "field supervisors", who since May 2001, were not paid proper statutory overtime for all hours worked beyond 40 per week. The action is brought under the federal Fair Labor Standards Act and seeks statutory and liquidated damages as well as declaratory and injunctive relief. As a collective action, all potential claimants are required to "opt-in" to the action in order to be considered part of the class. The employees have requested that the court issue notice to all potential class members. |
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