Reported 26 days ago
A Delaware bankruptcy court ruled that Yellow Corp. must pay outstanding pension liabilities, leading to a dramatic 90% drop in its stock price. The decision clarified that the company is responsible for some withdrawal liabilities to various pension plans due to its recent bankruptcy. Despite Yellow's claims that its pension plans are fully funded, the court supported regulations aimed at preventing employers from avoiding financial responsibilities upon withdrawing from multiemployer pension plans, ultimately confirming that Yellow's total liability could be around $1 billion.
Source: YAHOO