ERISA Litigation: Bankrupt Company Stock Investments

Last Updated on July 27, 2017

Investigation Complete

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At A Glance

This Alert Affects:
Workers who purchased company stock as part of their 401(K) or ESOP ERISA retirement plan and their company filed for bankruptcy.
Employees may be able to participate in a lawsuit to recover financial compensation for damages resulting from the company's breach of fiduciary duty.
Companies who offer their own company stock as an investment option in their 401(k) or ESOP ERISA retirement plans.
Additional Details:
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that establishes minimum standards for pension plans in private industries. ERISA requires plans to provide participants with information regarding the plan; establish minimum standards for vesting, participation, benefit accrual and funding; require accountability of plan fiduciaries; and allow participants the opportunity to sue for benefits and breaches of fiduciary duty.