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NEW YORK, March 23 Watson Wyatt Worldwide Inc.
WW.N said it will pay $110 million to a Michigan union's
pension fund to settle a lawsuit over actuarial services the
financial management consulting firm provided to the union
during the 1990s.
The Trustees of the Iron Workers, Local No. 25, in 2004
filed a suit in U.S. District Court in Michigan that accused
the company of malpractice, breach of contract and other claims
related to the actuarial work.
Watson said in a filing with the U.S. Securities and
Exchange Commission on Friday that it did not admit any
wrongdoing and agreed to settle the lawsuit to avoid the
unpredictability of further litigation.
The company said the settlement will have no impact on its
financial statements and that the total amount is covered by
the company's professional liability insurance.
(Reporting by Emily Chasan, editing by Gary Hill; Reuters
Messaging: rm://email@example.com;Tel: +1
646 223 6114; editing by Jane Baird))