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Article Date: July 2017
Word Count: 232

Foot Locker Loses Appeal on Pension Case


The Second Circuit upheld an earlier decision that Foot Locker’s change in pension benefits failed to disclose that a change from a defined benefit plan to a cash balance plan failed to disclose to employees that their benefits were effectively being frozen as a cost cutting measure. While Foot Locker’s appeal did not dispute that finding, it did attempt to whittle down some of the district court’s remedies, but those were also rejected by the higher court. Big Foot took a $100 million charge during the third quarter of 2016 as a result of the decision by the lower court. ... Log in to view full article.

 


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