Sprint to Settle Suit Over Retirement Accounts
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From the Associated Press
Sprint Nextel Corp. has agreed to pay almost $29 million to settle a class-action lawsuit filed by current and former employees who claim that their retirement accounts were degraded by being tied to the company’s stock.
U.S. District Judge John Lungstrum in Kansas City, Kan., approved the agreement last week. It will cover more than 85,000 employees who had money in the company’s retirement plan since 1998.
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