A federal judge has granted preliminary approval of the $32 million settlement — announced in August — for former Los Angeles Times auto writer Dan Neil and Tribune employees. The final hearing is set for January 30. The plaintiffs contended that the leveraged buyout that resulted in creation of an employee ownership plan violated federal pension law. Tribune staffers became owners of the company when it was taken private by Sam Zell in 2007. The company filed for bankruptcy protection one year later.
Plaintiffs’ press release