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United States Supreme Court Intervention Threatens the Retirement Security of Millions of Americans
The majority of plaintiffs are represented by
"Xerox wrongfully under-calculated the pensions of hundreds of individuals," noted Stris. "About that there is no dispute. The fight is over the remedy. Xerox argues that it should decide how much money the plaintiffs get, and that its determination must receive deference from the courts." Stris continued: "There is no language in ERISA that supports Xerox -- which is not surprising. The explicit purpose of the law is to protect pensioners. Xerox's argument has no natural end: employers with vast resources could insist on endless attempts to re-calculate pensions. And because ERISA does not permit the recovery of punitive damages, these employers could effectively tie up retirees everywhere in litigation forever. This litigation, which has continued for a decade, illustrates the very point. If the Supreme Court accepts the position urged by Xerox, no one's pension will be safe."
"Xerox's legal tactics constitute a risky strategic choice," said
The case will be argued next Term in December or January.
SOURCE Stris & Maher LLP
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