Court Nixes Former Employees’ Jury Trial Bid In YRC Worldwide ERISA Stock-Drop Lawsuit

Former YRC Worldwide Inc. employees are not entitled to a jury trial in their action alleging the fiduciaries of the company’s pension plan breached their fiduciary duties by continuing to invest in YRC stock when its stock price plummeted, the U.S. District Court for the District of Kansas ruled Nov. 29 (In re YRC Worldwide Inc. ERISA Litigation).

Granting YRC’s motion to strike the former employees’ jury demand, Judge John W. Lungstrum rejected the employees’ argument that their claim for money damages to remedy the alleged breach was a legal claim because they did not seek “true restitution” ...