Goodyear Tire and RubberCohen Milstein Sellers & Toll PLLC with other counsel, represents plaintiffs in Ernest Collier v. Goodyear Tire and Rubber, et al. in the Northern District of Ohio (No. 03-2182), which was filed on behalf of a class of all persons who were participants in or beneficiaries of Goodyear Tire & Rubber Company Savings Plan for Salaried Employees or the Goodyear Tire & Rubber Company Savings Plan for Bargaining Unit Employees (the "Plans"), and their predecessor plans from April 15, 2001 through the present (the "Class Period"). Summary of the Allegations
The Complaint alleges that during the Class Period the defendants breached their fiduciary duties when they were made aware of numerous facts that made Goodyear stock an inappropriate investment for the Plan. The fiduciaries failed in their duty to disclose and inform the 401(k) participants regarding this information, and instead encouraged the members of the class to continue to make and maintain substantial Plan investments in the stock, despite the fact that such an investment was imprudent and exposed the Participants to unreasonable risk of loss. Status of the Litigation
On June 29, 2004, plaintiffs filed their Consolidated Amended Class Action Complaint against defendants. And on July 6, 2006, the Court denied defendants’ Motion to Dismiss. If you have information which might assist us in the investigation of these allegations, please contact: Marc I. Machiz, Esq.
R. Joseph Barton, Esq. jbarton@cohenmilstein.com
Abby Gustafson, Paralegal agustafson@cohenmilstein.com
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W., Suite 500
Washington, D.C. 20005
Telephone: 888-240-0775 or 202-408-4600 |
