Detroit, Michigan – A group of more than 450 former employees and managers from Chrysler and DaimlerChrysler have filed a class action claim against Daimler and Cerberus to regain supplemental pensions that were lost during Chrysler’s reorganization and bankruptcy last year. The claim does not affect the new Chrysler company.
The guaranteed pensions were not transferred to the new Chrysler during the proceedings. As a result, each plaintiff lost a large percentage of earned retirement pensions.
“The Chrysler bankruptcy was devastating to virtually everyone involved,” said Sheldon Miller, the lead attorney representing the group. “Many of the men and women participating in this lawsuit worked their entire lives at the company under the repeated promise that these pensions would be there and intact for their retirement years. The direct financial loss, in combination with the serious reduction in medical, health care and auto benefits resulting from the bankruptcy, is causing them to make drastic changes to their retirement plans at a time when they can’t go out and find other jobs to supplement their income.”