Electronic Data Systems Corp.

EDS stock prices fell in 2002 so current and former participants of their retirement plan filed a class action lawsuit claiming securities fraud. EDS had agreed to pay $16.5 million into its 401(k) retirement plan through its insurance carrier, Chubb Insurance Co. Under this settlement, employees would recover only 2% of their losses so they appealed the decision. Federal district Judge Leonard Davis of Tyler rejected the proposed class action settlement as plaintiffs were seeking $352 million in losses. (Jul-01-05) [FORT WAYNE GAZETTE]