What is an ERISA 401(k)/pension retirement benefit class action?
An ERISA 401(k)/pension retirement benefit class action is a class action filed by participants or beneficiaries of a company’s 401(k) or other retirement plan who acquired company stock in the plan within a specific period of time known as a “class period” and suffered economic injury as a result of the company’s stock being artificially inflated when it was acquired. ERISA 401(k)/pension retirement benefit class actions generally are brought under ERISA and allege that the plan’s trustees, including the company itself, breached fiduciary duties to plan participants and beneficiaries during the class period surrounding such stock acquisition.
