CBS receives favorable ruling in Second Circuit affirming dismissal of putative ERISA class action
Clients CBS Corporation
On February 1, 2012, the U.S. Court of Appeals for the Second Circuit ruled in favor of Jones Day client, CBS Corporation, and affirmed the dismissal of a putative ERISA class action against CBS as time-barred. Former employees of CBS Corporation who reside in Pennsylvania filed the action in New York, alleging that a partial termination of the CBS Combined Pension Plan occurred and entitled them to become fully vested in their pensions. In unanimously affirming the district court’s dismissal of the complaint, the Second Circuit agreed with CBS that the timeliness of an ERISA claim is governed by the forum state's statute of limitations—including the forum state’s borrowing statute. In this case, New York's borrowing statute required the court to apply Pennsylvania's shorter limitations period, thereby making the plaintiffs' claims untimely. This victory on a motion to dismiss ended the litigation without any discovery.
Muto v. CBS Corp., 668 F.3d 53 (2d Cir. 2012)