The 60 day lead plaintiff period for this case has expired. If you are a member of the class but are not the lead plaintiff, you are an absent class member and your rights are protected during the pendency of the class action, unless you elect to opt out. As an absent class member, to share in the recovery from this case, if the case resolves successfully, you will need to file a proof of claim after the case is settled.

ITT Educational Services Inc, ESI 401(k) / ERISA Lawsuit

By Lucy Campbell

ITT Educational Services Inc, has been accused of securities fraud. If you are a current or former employee or are a member of any of ITT Educational Services Inc, investment plans or profit sharing retirement plans you may be included in this possible ITT Educational Services Inc, 401(k) or Employee Retirement Income Security Act (ERISA) class action. If you purchased or held ITT Educational Services Inc, stock in one of those plans during the periods Apr-22-10 to Feb-25-13, you may have a claim.

Under ERISA, ITT Educational Services Inc, employees can file a lawsuit against the company for putting stock options at risk. ITT Educational Services 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.

ITT Educational Services Inc, 401(k) / ERISA Legal Help

If you have suffered from ITT Educational Services Inc, 401(k) plan losses, you may qualify for damages or remedies that may be awarded in a possible ITT Educational Services Inc, ERISA class action lawsuit. Please click the link below to submit your complaint and we will have a lawyer review your ERISA complaint.
If you are NOT a current or former employee of this company, please use this form to register your complaint.

Please click here for a free evaluation of your ERISA claim

Published on Mar-11-13

READER COMMENTS

Posted by
Robin Kennedy
on May 2, 2017

I spent an hour on the phone with the IRS. They do not know anything and are not holding the funds. I did call the Dept of Labor 626-229-1000 and they connected me to this phone number. 877-259-2156 to speak to the plan administrator who says he is sending me the paperwork to roll this over.

Posted by
Melinda Parker
on March 1, 2017

I am a former ITT Employee that was vested in the Pension Plan, please help.

Posted by
William Olson
on January 5, 2017

I have been informed, from Transamerica Retirement Solutions (the manager of our ITT ESI 401K Plan) that the IRS has placed a hold on all distributions from the plan due to 'testing'.

Can you tell me what this is about? It seems that I'm being victimized yet again from them - but now it is our own government that is withholding our retirement funds.

Thank you for your help in advance!

William Olson
Former ITT ESI Employee 1993 to 2016

Posted by
thomas l vaughn
on November 8, 2016

I am trying to find a way to reach ITT ESI regarding the pension money owed to me.

ITT Educational Services Inc, ESI 401(k) / ERISA Lawsuit

ITT Educational Services Inc, 401(k) / ERISA Legal Help

READER COMMENTS

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