A federal appeals court ruled against 230...

A federal appeals court ruled against 230 retirees from U.S. News & World Report magazine who contend that they were cheated of about $100 million in profit-sharing benefits over eight years. The U.S. Court of Appeals ruled that the plaintiffs, who retired before the news magazine’s 1984 sale, were given a fair price when the company bought out their stock upon retirement, even though those who held stock when the magazine was sold received a much higher price. Attorney Alan Raywid, representing the plaintiffs, said there is a “substantial likelihood” that the decision will be appealed.