Despite arguments from the trustees that the workers lacked standing because they hadn’t invested in the funds they were challenging, U.S. District Judge Michael M. Baylson ruled in June 2023 that the case should proceed, citing a broad interpretation of ERISA claims by the Third Circuit.
Risk vs. Reward
While McLachlan and Graham’s experts estimated that damages could exceed $97 million, the union contended that potential damages should be capped at $4.5 million. The plaintiffs argued that the immediate benefit of the settlement outweighs the risks and costs of continued litigation.
