Compliance
EBSA Announces Fiduciary Seminar in Indianapolis
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is taking its “Getting It Right – Know Your Fiduciary Responsibilities” seminar to Indianapolis.
MA Business Owner Misused Retirement Plan Money
A business owner in Holyoke, Massachusetts, has pleaded guilty to embezzling $45,000 from his employees' retirement plan.
Ex-Employee of Defunct Bank Files Stock Drop Case
A former participant in the 401(k) and employee stock ownership plan (ESOP) of a now-defunct Lincoln, Nebraska-based bank has filed a stock drop lawsuit against the plans' fiduciaries.
Outsourcing Firm Accused of Diverting Money from ERISA Plans
Federal officials are investigating Franklin, Tennessee-based Sommet Group for allegations of stealing and embezzling money intended for employee benefit plans.
CPA Disbarred for Failure to Exercise Due Diligence
A CPA has been disbarred after the government found he failed to exercise due diligence in preparing tax returns for a corporation and its married shareholders.
New Allegations Move Schering-Plough Stock Drop Suit
Retirement plan participants can move forward in their stock drop suit against drugmaker Schering-Plough after bringing forth new evidence.
Gulf Oil 401(k) Suits Spill Over to Anadarko
Stull, Stull & Brody has started an investigation relating to the 401(k) defined contribution retirement plans of Anadarko Petroleum Corporation.
Solis Makes the Case For Change in Stock Drop Case Law
Lawyers representing U.S. Department of Labor Secretary Hilda L. Solis have argued that the holding of company stock in a defined contribution plan is not entitled to a presumption of prudence.
4th Circuit Upholds Award of Benefits, Attorneys’ Fees in LTD Case
Relying on U.S. Supreme Court precedents, a federal appellate court has affirmed the award of benefits and attorneys’ fees to a long-term disability plan participant.
Scott+Scott Announces BP 401(k) Plan Investigation
Another law firm has launched an investigation into possible violations of the Employee Retirement Income Security Act by BP PLC and fiduciaries of the its Employee Savings Plan.
Emerson Poynter LLP Probes BP Plan Practices
Yet another law firm is poking around to see if there might be a fiduciary breach at the BP 401(k) plan.
Broker Fined for Manipulating Oil Prices
Britain's financial regulator has fined and banned a former broker for manipulating oil prices by buying more than seven million barrels while on a drinking binge.