Times employees who sued Zell win a round

The case of the Los Angeles Times newsroom staffers who sued over the loss of employee stock value in Sam Zell's takeover of Tribune Company has been moseying through the courts. Today, U.S. District Judge Rebecca R. Pallmeyer in Illinois issued a summary judgment in favor of the employees, but not against Zell. This order only applies to GreatBanc Trust Company, the fiduciary for the Employee Stock Ownership Plan. The suit alleged that GreatBanc failed in its responsibility to protect the plan.