Firms may be sued over pension losses
SIPTU general secretary Joe O’Flynn said union officials had recently met with US fraud lawyers who were pursuing hundreds of similar cases in America on behalf of employees whose pension funds had been decimated.
“Worldwide, many pension funds have been affected by the downturn in the equities markets following September 11. But since Enron, there have been many cases where pension funds have been essentially destroyed through inside trading and malpractice on the part of company management,” he said.
