CSX Transportation Beats Former Executive’s Severance Lawsuit

A former CSX Transportation Inc. vice president lost his lawsuit seeking executive severance benefits when two federal judges in Florida agreed the company had a reasonable basis for determining that he forfeited severance by voluntarily resigning.

Judge Marcia Morales Howard of the U.S. District Court for the Middle District of Florida on Wednesday adopted a magistrate report rejecting Bryan Rhode’s Employee Retirement Income Security Act lawsuit.

Rhode objected to the report, arguing that it failed to consider whether his benefit plan administrator applied the correct legal standard in determining whether he’d resigned. Howard disagreed, saying Rhode “cites no authority” for ...