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Retired employees are subject to fraud as companies try to eliminate benefits or reduce pension plans

To seek justice, current and retired employees can file a class action lawsuit against their employer for jeopardizing their investments in company stock.

Los Angeles, California Employees throughout the U.S. have lost approximately $1.5 billion in unpaid stock options and pension plans. Employees forced into retirement or subject to company acquisitions, not knowing their rights often walk away with severed employee pension benefits.

These consumers are protected under the Employee Retirement Income Security Act or ERISA. This federal law sets standards for pension plans, health benefits, and investment options. Company executives are required to manage plan assets in the best interest of their employees. When executives breach this agreement, employees can take legal action to receive compensation. For instance, employees at Kmart Corp., Shell Group, and other corporations filed class action lawsuits against their companies in 2005 and the employees at Shell Group won an ERISA settlement of $90 million.

ERISA lawsuits can be filed when the employer withheld or lied about important investment details or put other interests ahead of the investors. Lawsuits can also be filed when employees are pushed into retirement or fired for unjust reasons giving the employer an opportunity to deny pension benefits and stock options. Company mergers and acquisitions also leave employees without promised benefits.

With a recent rush of fraudulent activity occurring in corporations, employees and retired employees are urged to blow the whistle. Consumers can take action to retrieve pension compensation through individual lawsuits or class action lawsuits. To join a possible class action lawsuit, submit your case for free legal evaluation by visiting

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