to Settle Suit Over Retirement Accounts
From the Associated Press
Los Angeles Times
Friday, August 11, 2006
Sprint Nextel Corp. has agreed to pay almost $29 million to
settle a class-action lawsuit filed by current and former
employees who claim that their retirement accounts were
degraded by being tied to the company's stock.
U.S. District Judge John Lungstrum in Kansas City, Kan.,
approved the agreement last week. It will cover more than
85,000 employees who had money in the company's retirement
plan since 1998.