Wal-Mart Settles Insurance Policies Suit

[Nlighten1]

Too old for LBN, apologies if this has already been posted.

http://story.news.yahoo.com/news?tmpl=story&cid=509&ncid=509&e=10&u=/ap/20040109/ap_on_bi_ge/wal_mart_insurance_lawsuit_1

DALLAS - Wal-Mart Stores Inc. has settled a lawsuit over its practice of taking out life insurance on employees and making itself the beneficiary.

The settlement with families of employees who died was reached hours before a federal appeals court ruled against the giant retailer. Terms of the deal, reached Monday, were not disclosed.

Although only about six families were part of the lawsuit, a lawyer for the families said the settlement could benefit relatives of several hundred other Wal-Mart employees.

The families who sued claimed that Wal-Mart never told workers about the life insurance policies, and they were enraged that the company profited but they received nothing from the proceeds.

[revcarol]

1. Glad those poor families are finally going to get something.

Despicable conduct by Wal-Mart and those other companies...

BTW, this is the type of class-action suit that the repugs HATE. But I say, "THREE CHEERS FOR JUSTICE!"

[SharonAnn]

2. Same thing they're trying to do for TX Education Retirement Fund

Thos good old "dead peasant" insurance policies can sure come in handy for businesses and organizations.