Class Action Lawsuits Won Against Continental Can Company

The Continental Can Company is one of the many large companies throughout history to be brought to trial in a class action law suit. They are one of the many companies that have been accused of taking advantage of people for monetary gain. The history of this suit began in 1970. While the company was doing well, and while profits and revenue continued to climb, the company was looking to cut costs in order to give their investors higher returns.

Looking to ensure the company’s growth and looking for ways to cut their bottom line, they turned to what has been called immoral and unethical acts. Members of the Steelworkers Union from Los Angeles to St. Louis came together in a class action lawsuit stated that the Continental Can Company took those cuts in their budget by taking the pensions of workers who had given their entire lives to the company.

Due to the protection of the Union, the administrators found it necessary to find a creative way to cut their costs by the cutting of pensions. The pension plan was intended to encourage this life long service, as once a worker had reached retirement age, they would be eligible to receive the pension payments for the rest of their lives. Those who left the company early would forfeit that pension. The name for a computer program that tracked the length of the worker’s employment was devised and titled “BELL” This was a backwards acronym for “Let’s Limit Employee Benefits”. The computer program kept track of those employees who were approaching their retirement, and when that would happen, those employees would be laid off or fired.

This was taking place for ten years before anyone realized what was going on. It was not until the 1980’s that evidence that this was taking place was revealed. There have been many cases since then, of companies taking advantage of or defrauding their own employees for a higher monetary gain. Continental Can Company was found guilty, and they were required to pay each and every employee who was wrongfully terminated over the years. This was one case where justice was served.

This entry was posted on Wednesday, February 10th, 2010 at 7:26 pm and is filed under Class Action Information, Corporate, Legal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Class Action Lawsuits Won Against Continental Can Company”

  1. Diane Roxbury Says:

    I lost my paper work on this and still awaiting my last payment does anyone have the name of the Speical masters and phone number that I can contact them?
    THanks for your help.

  2. steve howard Says:

    Hi, my father worked for ccc for 24.5 years and was laid off and payed off, under 20k, any ideas what i can do for my mom, Thanks Steve

  3. diane Rib Says:

    Call Dept of labor and or a labor law attorney
    CCC screwed so many employees My husbands pension was Slashed and he was CCC Plant Supt when plant closed in 1988 . 26.4 yrs of service Down the drain His widow struggles to pay bills.

 

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