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Employee Stock Options Lawsuit
Employee benefits are an important form of compensation offered by many employers. Some benefits plans are covered by the Employee Retirement Income Security Act of 1974 (ERISA). When employers violate ERISA laws, employees may be able to file a lawsuit to recover money lost from their employee savings plan, employee stock options plan or other benefits plans covered by ERISA.
En Español [FRAUDE DE ERISA]
The Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for pension and health plans offered by private businesses to their employees. ERISA was designed to protect employees who participate in such plans.
ERISA covers health plans, retirement plans and employee stock options plans, in which employees are given the opportunity to purchase shares of a company's stock at a certain price, often lower than the actual or anticipated market price of the shares.
Under ERISA laws, the people responsible for overseeing employee benefits plans (often referred to as fiduciaries) must follow specific guidelines. These include acting in the best interests of the plan participants; providing participants with plan information, including information about plan features and funding; and providing a grievance and appeals process for participants. Breaches of fiduciary duty can result in a lawsuit being filed against plan fiduciaries.
Plan fiduciaries include plan trustees, plan administrators and people who sit on the plan's investment committee. Fiduciaries are required to act prudently, diversify investments and avoid conflicts of interest when managing a plan's assets.
Employee stock option litigation often involves a breach or misrepresentation of Stock Option Agreements; some scenarios include:
An ERISA lawsuit was filed against YRC Worldwide Inc., also known as Yellow Freight, alleging employees lost value in their plans because of imprudent investments by plan administrators.
Employee stock option lawyers have experience handling all types of employee stock option cases, and exclusively represent employees and focus their practice on employee stock option disputes, employee stock option cases, employee stock option litigation, employee stock option class actions, deceptive trade practices, and breach of Stock Option Agreements in connection with employee stock options.
Employee Stock Options Legal HelpIf you have suffered stock losses from the cancellation or devaluation of employee stock options, please click the link below to submit your complaint to a lawyer who will review your claim for free.
Last updated on May-21-10
EMPLOYEE STOCK OPTION LEGAL ARTICLES AND INTERVIEWS
ERISA Lawsuit to Be Heard by Supreme Court in February
Washington, DC: An ERISA lawsuit concerning the statute of limitations in ERISA plan claims will be heard by the Supreme Court this month. The lawsuit, Tibble, et al vs. Edison International, et al, originally involved claims about imprudent investments for a company ERISA plan, but the Supreme Court will hear arguments concerning the statute of limitations in the ERISA plans [READ MORE]
Report: $1.3 Billion in Top ERISA Class-Action Settlements in 2014
Chicago, IL: An annual report of workplace litigation reveals that in 2014, ERISA lawsuits netted more than $1.3 billion in settlements, making 2014 the highest for ERISA (Employee Retirement Income Security Act) plan settlement figures in recent history. Although the number of ERISA lawsuits was down by the end of 2014, a few massive ERISA settlements drastically increased the settlement figures for the year [READ MORE]
Labor Department Wins $4.7 Million in ERISA Lawsuit
Trenton, NJ: An ERISA lawsuit filed in 2005 by the Department of Labor has resulted in a $4.7 million judgment against the fiduciaries of the Professional Industrial Trade Workers Union (PITWU) Health & Welfare Fund. The ERISA plan complaint alleged that the fiduciaries violated their duties by compensating themselves for their services through employer contributions [READ MORE]
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My ESOP has declined from $8K to less than $1K , also while being employed with Fannie Mae I was unable to sell any of my personal stock due to a trading freeze designated by Fannie Mae. I am currently on disability leave without pay from my 10+ years as an eviction specialist for their national foreclosed REO properties.
My 401 K is losing money daily, my former company keeps lying to me stating they are doing what I ask when I'm on the phone with them. Example. I sent an email (which I still have) to my former Benefits coordinator on December 5, 2007, and she said she would complete her part that day and forward it onto the corporate benefits department. the following week when I spoke with the Corporate Benefit department December 10, 2007, they had still not received my termination from Wichita. I received a call December 11, 2007 from the Corporate deparment and they stated that the local benefit coordinator was completing her part and I should be able to terminate my account with vanguard by December 14, 2007. I called Vanguard today, and they still do not have the information of my termination so I can not terminate my account. I am needing this money to purchase gifts for my children for Christmas, and to keep power on. Nobody seems to understand I am needing this money now, I keep losing money daily because the stock market is so bad. Ther has to be a law against somebody not letting you terminate your 401K account especially when you kep losing money.
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