SEATTLE, May 9, 2008 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. (http://www.erisafraud.com) today announced that the Honorable Neal P. McCurn issued an order in which he denied the Defendants' Motion to Dismiss in the class action ERISA lawsuit currently pending against fiduciaries of the Oneida Ltd. Employee Stock Ownership Plan (the "ESOP"). The order allows Plaintiffs to proceed with the lawsuit against all of the Defendants named in the Complaint (described below).
The Lilly, et al. v. Oneida Ltd. Employee Benefits Admin. Committee et al. ERISA Complaint was filed on March 29, 2007 in the United States District Court for the Northern District of New York on behalf of Plaintiffs and a proposed class of all persons who were participants in or beneficiaries of the ESOP between May 28, 2003 to March 20, 2006 (the "Class Period") and whose accounts included investments in Oneida Ltd. Common stock. Plaintiffs allege that the Defendants breached their ERISA fiduciary duties by failing to prudently and loyally manage the Plan's assets and failing to monitor its fiduciaries.
If you are a participant or beneficiary in the Plan you may view a copy of the Court's order at: www.erisafraud.com under cases/Oneida/case documents or you may contact any member of our team, paralegal Jennifer Tuato'o or attorneys Lynn Sarko or Britt Tinglum, toll free at (800) 776-6044 or via email at investor@kellerrohrback.com to obtain a copy of the Court's order.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca/