Submit your claim details for a free, no obligation case review
Get Started:
Conseco Inc., a Carmel, Indiana based insurer, has agreed to pay $10 million to settle a class action lawsuit filed by employees alleging violations of the Employee Retirement Income Security Act (ERISA) for stock losses related to the company’s 2002 bankruptcy.
The suit, filed in October 2002, charges Conseco and some current and former officers with breaching their fiduciary duties under ERISA by allowing 401 (k) plan participants to continue investing their savings in company stock without divulging Conseco’s true financial status.
If the ERISA class action settlement is approved, the $10 million sum would be available to current and former employees who participated in the company’s 401 (k) pension plan and held stock in Conseco Services L.L.C., a Conseco subsidiary, any time after April 28, 1999.
Copyright © 2001 - 2012 Online Lawyer Source
ATTORNEY ADVERTISEMENT—Thank you for your visit. The content published on this website was not written by medical professionals and should not, at any point, be mistaken for medical advice. Furthermore, the information on this site is intended for educational purposes only and should never interfere with a patient/site visitor and his or her healthcare provider. In addition, viewing the content on this website, requesting additional information, or transmitting information through a contact form should never be considered the formation of an attorney-client relationship. The material published on this site is general and may not apply to your specific circumstances. Every case comes with its own set of unique circumstances; past success discussed on this site does not guarantee future performance. Information found on this website should not be used as incentive to act without seeking counsel from a professional. For more information, please read our disclaimer.