CANADA: Ex-workers Sue Hudson's Bay In $47.4m Pension Row
Hudson's Bay, Canada's biggest retailer, yesterday said it plans to defend a class action lawsuit accusing it of diverting cash from a subsidiary's pension plan. The claim has been filed by former employees of department store chain Simpsons, which was bought by Hudson's Bay in 1979. They allege the company wrongfully diverted surplus assets from their retirement funds into the pension plans of other subsidiaries, Kmart and Zellers - and are suing for $47.4m.
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