(Bloomberg) — Lockheed Martin Corp., builder of the Orion spacecraft that may one day take people to Mars, and its workers and retirees agreed to delay a trial over pensions by a day to see if the dispute can be settled out of court.
A U.S. judge granted the delay "so that the parties can determine whether the case can be resolved short of a full trial," Jennifer Allen, a spokeswoman for Bethesda, Maryland- based Lockheed, said today in an e-mail.
Lockheed is fighting claims its mismanagement of retirement benefit plans left workers with worse returns on company stock than investors who bought it on the open market. The workers accused the aerospace and defense contractor's in-house investment manager of charging them excessive fees and under- delivering on performance.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.