A lawsuit against Caterpillar Inc. (CAT) alleging Caterpillar cut retirees’ promised health insurance benefits was certified a class-action Thursday, Dow Jones reports.
The Peoria, Ill., machinery company had argued against certification saying the plaintiffs didn’t adequately represent the class or have standing to bring the suit.
The plaintiffs allege Caterpillar in 2004 started charging employees and their surviving spouses for a portion of medical care, despite guarantees of free lifetime care.
A spokesman for Caterpillar wasn’t immediately available for comment
