Kmart
A class action lawsuit is being filed against Kmart on behalf of more than 50,000 employees. The suit is in regards to the more than $100 million dollars in their 401(k) plans due to the fact that the retirement plan was heavily invested in Kmart stock, and this stock became worthless when Kmart sought bankruptcy protection. The suit will also claim that the employees were defrauded and misled about the company's financial condition, and that the company executives "blindly continued to invest all contributions to the company stock fund in Kmart stock, causing the plan assets to be over concentrated."
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
