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Ex-Daimler employees sue over lost pension money

Ex-Daimler employees sue over lost pension money

Some 450 former Chrysler employees have filed suit against Daimler AG and Cerberus Capital Management LLC, claiming they lost millions in pension money in Chrysler's 2009 bankruptcy.
The plaintiffs, among them various well-known figures including former chairman Lee Iacocca, argue they lost their supplemental pensions during the bankruptcy because they were not transferred to the new Chrysler company.
"As a result, each of the plaintiffs lost large percentages of their earned retirement pensions," said Sheldon Miller, a lawyer for the ex-employees.
A Daimler spokesman declined comment, saying he had not seen the court documents.


Updated : 2021-04-13 10:53 GMT+08:00