Ahdoot & Wolfson, PC represents employees who have claims under the federal Employee Retirement Income Security Act (“ERISA”). We litigate cases on behalf of employees whose 401(k) and pension investments have suffered severe losses as a result of the breach of fiduciary duties by plan administrators and the companies they represent.
By committing our considerable resources to litigating claims on behalf of injured retirement plan participants who have suffered severe losses due to corporate misrepresentations or other wrongdoing, we protect employees’ retirement benefits held in traditional pension plans, 401(k) plans and employee stock ownership plans (“ESOPs”).
Unfortunately, employees are sometimes misled into purchasing overvalued employer stock through employer-sponsored 401(k) retirement plans. Often, it is imprudent for 401(k) plan fiduciaries to recommend or even to allow the investment in company stock as one of the options available to 401(k) plan participants. Some employers also violate their fiduciary duty to their employees by allowing excessive, unreasonable or undisclosed fees in their retirement plans.
Where ERISA does not apply, such as with retirement plans for government workers, we have brought lawsuits alleging a breach of trust under applicable law. Where appropriate, we may also use the civil version of the federal legal tool commonly wielded in the prosecution of organized crime and drug kingpins, the Racketeer Influenced and Corrupt Organizations Act (“RICO”). We also utilize state consumer fraud laws and state common law in class action and other litigation to help recover retirement benefits for American workers who have been injured by their employers.