Georgia-Pacific Settles Pension Lawsuit
The settlement, which is subject to court approval, provides that the plan will pay additional pension benefits totaling $67 million to members of the class, less attorneys’ fees and costs of the settlement.
“Although we have denied and continue to deny the allegations, we believe the settlement is in the best interests of the plan’s participants and the corporation’s shareholders,” said Patricia Barnard,
Class counsel for the class of plan participants consisted of Bradley J. Schram, Robert P. Geller, Bradford T. Yaker and Eva T. Cantarella of Hertz, Schram & Saretsky, P.C., Bloomfield Hills, Mich., and Allen C. Engerman of Law Offices of Allen C. Engerman, P.C., Northbrook, Ill. Mr. Schram and Mr. Engerman noted that the settlement provides a fair resolution and closure after seven years of litigation.
Media - Greg Guest
Investors – Meg Nollen