Everyone knows to make sure to avoid discrimination in the workplace. What some people may not know is that a company might be liable for discrimination even after the employee is no longer working. A class action of hundreds of Chrysler executives recently won a ruling to reinstate a lawsuit for age discrimination against Chrysler’s parent company, Daimler, AG.
More than 450 former executives of Chrysler allege that their retirement funds were not securitized, while the retirement funds of other current and former executives were securitized. The executives who received securitized retirement funds were allegedly younger than the retired executives whose retirement funds were not securitized (and were therefore lost in Chrysler’s government funded bankruptcy in 2009).
The lawsuit also alleges that Daimler and State Street hid the true state of Chrysler’s finances before selling the majority of the company in 2007.
In June of 2011, the case was dismissed entirely by a U.S. District judge in Detroit. A U.S. Appeals court in Cincinnati has revived the allegations of age discrimination, while agreeing with the lower court ruling to dismiss the allegations of breach of fiduciary duty.
A spokeswoman for Daimler has said they are pleased that the Appeals court decided to dismiss most of the allegations, and the Daimler will continue to fight the lawsuit.
The class action attorneys at Chicago Overtime Law Center have decades of experience litigating wage and hour cases including overtime, meal breaks, vacation pay, and tips in Cook, Lake, Kane, DuPage, Will and McHenry counties. Our offices are conveniently located in Oakbrook Terrace and Chicago, Illinois. If you believe you are not being paid fair wages, contact a Chicago class action attorney today at 312-869-4095 or fill out our online form.