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| Smurfit Stone Container Corporation ERISA Class Action |
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Smurfit Stone Container Corporation
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| Winston & Strawn represented the Administrative Committee of the Smurfit Stone Container Corp. (SSC) Retirement and Pension Plans (the Plans) and various directors and officers in four federal court actions filed in Chicago, Delaware, and Kansas City involving ERISA violation claims. Specifically, plaintiffs alleged that defendants violated provisions of ERISA involving certain losses that the Plans experienced in connection with the financial crisis and with SSC’s subsequent bankruptcy filing. Plaintiffs initially claimed damages and losses in excess of $150 million. The parties agreed to mediation, which was conducted in New York but was only moderately successful. Winston lawyers successfully sought to consolidate the pending actions in Chicago. With dispositive motions brought by defendants fully briefed and pending, plaintiffs re-opened settlement talks, which ultimately proved successful. On August 17, 2011, Judge Kendall approved the final settlement ($7.75 million) and dismissed the actions with prejudice. |
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