Settlement: Joy Global Inc., formerly Harnischfeger Industries Inc.

In 2001 a lawsuit was filed against Harnischfeger Industries Inc. Employees of the former Harnischfeger Industries claimed the company's pension fund did not warn them about the risk of investing heavily in Harnischfeger as it neared bankruptcy. The former Milwaukee-based manufacturer of mining equipment and machines used in the paper industry emerged from bankruptcy as Joy Global, a Milwaukee mining equipment company. A $10.8 million settlement has been awarded to former employees of Harnischfeger. (Jul-12-06)[]




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