Jay Ritter Comments on Legality of Retiree’s Benefits Loss Following Company Acquisition

Commenting on the loss of life insurance benefits for former ITT retirees following acquisition of Exelis, a 2011 spinoff of ITT Corporation, by defense contractor Harris Corp., Jay Ritter said the legality of Harris’ decision to use the trust assets for other retiree benefits was not “clear cut” and hinged on a host of factors. Ritter’s employee benefits practice includes executive and stock-based compensation, ERISA issues arising in mergers, acquisitions and other transactions, pension and welfare plans and issues of fiduciary responsibility.

Read ITT retirees angry about loss of life insurance benefits, Roanoke Times, January 15, 2016.