Tag: Company Stock

Sears Holdings Faces Stock Drop Lawsuit

The lawsuit alleges that even if the plan required that Sears Stock be offered, the plan’s fiduciaries were obligated by law to disregard that directive once it became clear company stock was no longer a prudent investment for the plan.

J.C. Penney to Settle Stock Drop Suit

The company has agreed to pay $4.5 million to resolve a lawsuit alleging it failed to drop the company stock fund from its retirement plan after it was no longer a prudent investment.