ERISA 401(k)/Pension Retirement Benefit Class Actions

  • 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.

  • Of what benefit is an ERISA 401(k)/pension retirement benefit class action?

    ERISA 401(k)/pension retirement benefit class actions provide retirement plan participants and beneficiaries with the ability to be represented in lawsuits against large, well-funded corporations and other persons who are alleged to have violated fiduciary duties owed to retirement plans and their participants under ERISA and have a lot of money to spend on defending lawsuits directed at those violations. Class actions allow injured persons who would never have brought an individual action to seek recovery without having to individually retain lawyers and incur legal fees.

  • What is a class period?

    In ERISA 401(k)/pension retirement benefit class actions, a class period is the specific timeframe in which the alleged breaches of fiduciary duty caused injury to retirement plan participants and beneficiaries.

  • How do I know if I have an ERISA 401(k)/pension retirement benefit claim?

    If you acquired your employer's stock or other securities in your 401(k) or other retirement plan account and the value of that stock or other security subsequently declined in value following a significant negative disclosure about the company, you may have a claim. Scott + Scott will quickly investigate the matter and advise as to whether the firm believes there may have been fiduciary duty breaches by your retirement plan trustees. If you wish to discuss your claim or have any questions concerning your rights in an ERISA 401(k)/pension retirement benefit class action, please contact us.

  • Should I file an ERISA 401(k)/pension retirement benefit class action if a similar action has already been filed?

    Having suffered meaningful losses, you are entitled to be represented by the best available lawyers to pursue your claims. Experienced counsel will pursue your claims diligently. Scott + Scott is a national law firm with extensive experience in ERISA 401(k)/pension retirement benefit class actions and a record of obtaining exceptional results for class members.

  • How long before ERISA 401(k)/pension retirement benefit class actions are resolved?

    Some actions settle quickly. Some eventually go to trial. Because of the complexity of ERISA 401(k)/pension retirement benefit class actions, many take years to litigate. Scott + Scott aggressively prosecutes all its cases.

  • Does it cost me anything to file or participate in an ERISA 401(k)/pension retirement benefit class action?

    Scott + Scott represents 401(k) and other retirement plan participants and beneficiaries in ERISA 401(k)/pension retirement benefit class actions on a contingent-fee basis. We seek fees from the court if, and only if, we are successful in obtaining a recovery for the class. All costs and expenses of the litigation are advanced by Scott + Scott.

  • How are attorney fees paid?

    Attorney's fees are generally awarded as a percentage of the benefit achieved by the attorneys for the class or by order of a court. These percentages vary depending upon, among other factors, the size of the recovery for the class and the length and complexity of the litigation. It is the court, after full notice to all class members, that ultimately determines what is a fair and reasonable fee.