Tyco International Ltd. has agreed to pay about $70.5 million to settle a lawsuit filed by participants in Tyco retirement plans. It was alleged that the company breached its fiduciary duties to Tyco employees while a massive accounting fraud was taking place. The Plaintiffs, representing participants in seven Tyco retirement plans, have requested Judge Paul J. Barbadoro of the U.S. District Court for the District of New Hampshire, where the multidistrict litigation is pending, to approve the settlement.
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