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Watson Wyatt sued for alleged negligence.(International)(Watson Wyatt Worldwide )(Brief Article)

Business Insurance, March, 2005

Byline: SARAH VEYSEY LONDON-A trial over alleged negligence by Watson Wyatt Worldwide in its valuation of a Credit Lyonnais group pension plan is slated to start next month. The Paris-based investment bank has sued the London-based unit of Watson Wyatt Worldwide over work that the pension consultant conducted for the Credit Lyonnais Group U.K.

Pension Scheme, a Watson Wyatt spokesman said. The bank claims that Watson Wyatt overstated the funding position of the plan and that, as result of the alleged overstatement, the bank granted richer benefits to employees than it would otherwise have done, the spokesman said. The Watson Wyatt spokesman said that the consultancy was "vigorously contesting the ongoing claim.'' "We consider that the losses claimed...

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