Itron Inc has been accused of securities fraud. If you are a current or former employee or are a member of any of Itron Inc investment plans or profit sharing retirement plans you may be included in this possible Itron Inc 401(k) or Employee Retirement Income Security Act (ERISA) class action. If you purchased or held Itron Inc stock in one of those plans during the periods Apr-28-10 to Feb-16-11, you may have a claim.
Under ERISA, Itron Inc employees can file a lawsuit against the company for putting stock options at risk. Itron Inc employees have a claim if they can prove their employer violated its fiduciary duty to its employees. Fiduciary duty refers to a company's responsibility to the people who invest in it. If an employer puts the company's interest ahead of the investors', it has broken its fiduciary duty. A fiduciary is a person that exercises discretion over the management of plan assets or exercises discretionary control over the administration of the plan.
ERISA is a federal law that sets minimum standards for pension and health plans set up by private businesses. ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company. Stock options are a form of compensation in which employees are given the opportunity to purchase shares of the company stock at a certain price.
Itron Inc 401(k) / ERISA Legal Help
If you have suffered from Itron Inc 401(k) plan losses, you may qualify for damages or remedies that may be awarded in a possible Itron Inc ERISA class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your ERISA complaint.
Good luck in your litigation. I have reason to believe that Itron is a corrupt crony capitalist company run by some unsavory people. Some investigation is needed but I believe that some bribes or graft was used in order to secure mass purchases of Itron equipment, which are inferior in every way to the equipment it was used to replace.
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