LAWSUITS NEWS & LEGAL INFORMATION
BP ERISA Plan Lawyer Interviews
July 31, 2010. By Heidi Turner.
Read [ BP ERISA: Was Company Stock a Prudent Investment? ]
Miami, FL Managers of company benefits plans have a duty to act in the best interests of plan participants. Lawsuits filed recently, however, allege that plan fiduciaries failed to prudently invest the assets of BP employee benefits plans and violated ERISA (Employee Retirement Income Security Act) laws.
June 19, 2010. By Heidi Turner.
Read [ Attorney Greg Porter Speaks about BP ERISA ]
Washington, DC The repercussions of the massive Gulf of Mexico oil spill on those who worked on the Deepwater Horizon oil rig and those who live on the Gulf of Mexico have been well-documented. One group that has gone largely unnoticed, however, are BP employees who participate in BP's savings and 401(k) plans. Their plans' assets have lost approximately $1 billion this year on investments in BP stock. Attorneys are now investigating a potential lawsuit against BP.