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Employee Stock Options Lawsuit
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 Feb-4-14
EMPLOYEE STOCK OPTION LEGAL ARTICLES AND INTERVIEWS
Excessive Fees ERISA Lawsuit Filed against Fidelity
Boston, MA: An excessive fees ERISA lawsuit has been filed against Fidelity, alleging Fidelity violated its duty under ERISA plan laws by failing to act in the interests of the plan or plan participants. According to the lawsuit, the actions of the ERISA plan fiduciaries cost plan participants around $15 million per year from 2008 to 2013 [READ MORE]
Supreme Court Sides with Plan in ERISA Lawsuit
Washington, DC: In a ruling on ERISA plan statutes of limitations as they relate to a company’s disability plan, the Supreme Court has sided with plan. The Supreme Court unanimously found that the limitations period does not violate the Employee Retirement Income Security Act. This means that plans are able to impose a statute of limitations even on ERISA-covered benefits plans [READ MORE]
ERISA Lawsuit Results in $99 Million Settlement
New York, NY: An ERISA lawsuit involving a bankrupt financial firm has now been settled for $99 million. The ERISA settlement was the culmination of three years of litigation, and involved claims by various retirement investors against Lehman Brothers [READ MORE]
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