Johnson & Perkinson Announces Filing of Class Action Lawsuit on Behalf of Current and Former Delphi Corp. Employees/Pension Plan Participants and Thei
Johnson & Perkinson Announces Filing of Class Action Lawsuit on Behalf of Current and Former Delphi Corp. Employees/Pension Plan Participants and Their Beneficiaries -- DPH : ArriveNet Press Releases : Business: "SOUTH BURLINGTON, Vt., April 12, 2005 (PRIMEZONE) -- Johnson & Perkinson (http://www.jpclasslaw.com) announces the filing today of a class action lawsuit, in the United States District Court for the Eastern District of Michigan, on behalf of participants and beneficiaries of the Delphi Corporation's (NYSE:DPH) pension plans. The lawsuit, brought pursuant to the Employee Retirement Income Security Act of 1974, is on behalf of those participants since May 28, 1999 in the (1) Delphi Savings-Stock Purchase Program for Salaried Employees in the U.S.; (2) Delphi Personal Savings Plan for Hourly-Rate Employees in the U.S.; (3) ASEC Manufacturing Savings Plan; and (4) Delphi Mechatronic Systems Savings-Stock Purchase Program. If you wish to discuss your rights, please call 866-276-5446 (EST) or e-mail Johnson & Perkinson at: email@jpclasslaw.com.The lawsuit alleges that plan fiduciaries breached such duties and responsibilities by, among other things, failing to investigate the prudence of an investment in Delphi stock and by making misrepresentations about the Company's accounting practices dating back to1999. Several current and former Delphi employees have already chosen to participate in the lawsuit. These employees are organizing a structure to direct the lawsuit. Those employees who choose to participate in the lawsuit can do so confidentially. It is unlawful for any fiduciary or defendant to take any retaliatory action against any employee who chooses to participate in the suit." (Full story at link)
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