Keller Rohrback Investigates Lord Abbett 401k Retirement Plan Losses
April 17, 2017
Keller Rohrback is investigating possible significant losses resulting from the Lord Abbett 401(k) Retirement Plan (“Plan”) investments in high cost mutual funds offered and managed by the Plan Sponsor, Lord Abbett & Co. LLC (“Lord Abbett”), and its affiliates, in violation of the Employee Retirement Income Security Act (“ERISA”).
The investigation focuses on whether Lord Abbett and other related Plan fiduciaries breached their fiduciary duties and engaged in transactions expressly prohibited under ERISA by, among other things, maintaining expensive Lord Abbett-affiliated mutual funds in the Plan lineup, when cheaper, comparable investment options were available to it. These breaches may have cost participants and beneficiaries of the Plan substantial losses of their retirement savings.
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For decades, investors have trusted the attorneys at Keller Rohrback to help them recover losses due to breaches of fiduciary duty. Keller Rohrback L.L.P. has a national reputation for groundbreaking ERISA class action litigation, and serves as lead and co-lead counsel in ERISA and other class actions throughout the country. With offices in Seattle, Phoenix, New York City, Ronan, Santa Barbara, and Oakland, our Complex Litigation Group is proud to offer its expertise to clients nationwide. Our trial lawyers have obtained judgments and settlements on behalf of clients in excess of $18 billion dollars.