LAW & REGULATION
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From Times Staff and Wire Reports
Employees Sue Unisys: A group of Unisys retirees and employees filed a class-action suit against the company for “imprudently” investing about $200 million of their retirement dollars in Executive Life Insurance Co. Executive Life was seized by insurance regulators earlier this year, and these 3,000 workers and former workers are getting only a fraction of their normal monthly benefits, when they get at all. However, the company denies that it invested imprudently.
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